Betting on the outcome of sporting events has been going on for many years and Las Vegas is the undisputed center of the sports betting universe. However, there are places, relatively unknown to the public, where people are making money by predicting the outcome of events.
These are called prediction markets – exchanges where people trade shares on the outcome of future events. These markets work similarly to futures markets except that they deal strictly with the outcome of events and not physical products or companies. While regulations around prediction markets are largely absent, there are guidelines that have been set forth to protect the integrity of the markets and prevent traders from attempting to influence the outcome of the events.
What Is Fame Project?
Fame Project is a Pop Culture prediction market where users make predictions on the outcome of specific events using real money to buy shares that are traded on the market. These shares are given a value and profits are made when the value of the shares increase, just like any other type of financial market.
The predictions are on pop culture events such as the NFL Draft results, the Oscars, competitions like American Idol, Survivor and The Amazing Race. These events have garnered a huge number of followers all across the US and many people devote tons of their spare time and energy hanging on their outcomes.
Who’s Fame Project Targeted Toward?
Fame Project aims to attract people looking to make money off their obsession with pop culture, and those who are just looking for something new to trade on. It appeals to the US’s obsession with pop culture as well the urge to be right about the outcome of current events, and to have some extra cash to prove you knew what was going to happen all along. Fantasy sports fans, for example, would love these markets, as they appeal to the same obsession with following current events, rumors, and stats that got them involved with fantasy competitions. Similarly, people who follow what’s going in the entertainment world, whether it be Hollywood gossip, reality TV contests or awards shows, could use their knowledge to go on the markets and trade with real money.
Who’s Behind The Fame Project?
The Fame Project was developed by a nonprofit organization known as the Fame Research Foundation. This group was formed to help fund under-supported social science disciplines. They also generate quantitative data for humanities research through the trades logged on their exchange. This is notable because humanities research has traditionally relied on costly and time-consuming methods to generate data for research, such as focus groups and surveys. Along with the data and funding that are generated using the Fame Project, they also use much of the revenue to support the development of educational tools for higher education. Not only is Fame Project a fun new way to trade real money on current events it also helps educate the world.
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