Augur, a decentralized platform allowing individuals to create prediction markets on a vast array of topics, announced today that it was launching its alpha test.
“Traditionally, prediction markets have fallen short due to their need for volume in order to be valuable forecasting tools,” explained Jeremy Gardner, the Director of Operations at Augur. “Having a global, unstoppable, blockchain-based prediction markets platform means anyone in the world with internet can connect to Augur.”
However, Augur is not, itself, a prediction market. Rather, it is open-source code for a prediction markets platform. In essence, the team doesn’t actually operate the software nor does the team own it.
One of the concerns for prediction markets is that they will come under assault from the Commodities Future Trading Commission, which is very strict about new markets being launched. Other prediction markets, such as Intrade, have been forced to ban United States users from the site. Gardner doesn’t believe this will be an issue.
“We’re just writing open-source code for a [prediction market] platform. That is constitutionally protected activity,” he explained. “In addition to speaking to a former CFTC Commissioner, my lawyer and myself have spoken to one of the CFTC’s top