Cryptocurrencies
As Crypto Meets Prediction Markets, Regulators Take Notice
This article is for subscribers only.
The next confrontation between government regulators and a blockchain startup appears set to ensnare a prediction market platform that goes by the name Augur.
After going live on July 10, Augur allows anyone to create contracts to predict future events such as the outcome of basketball games, elections, the price of Bitcoin or the closing value of the Dow Jones Industrial Average. The platform has attracted attention from regulators who oversee derivatives, while Augur’s developers maintain they’re not the ones creating the bets.