New 'World' App Lets You Bet on Predictions Using Solana

A new prediction market called World launches on Solana and Phantom wallet, taking on giants Polymarket and Kalshi.

A brand-new app called "World" is launching to let people bet on the outcomes of future events — and it's built on Solana, one of the fastest blockchains (a digital record-keeping system that powers cryptocurrencies).

So what exactly is a prediction market? It's a platform where people can bet real money on whether something will happen — like who will win an election, or whether a movie will be a hit. If you guess correctly, you win money. The prices act like odds, showing how likely the crowd thinks an event is.

World will be available through Phantom, a very popular digital wallet (an app that stores your cryptocurrency and lets you use it online). Behind the scenes, a service called Chainlink will act as an "oracle" — a tool that feeds real-world information (like the actual result of an event) into the blockchain. This lets World offer:

Immediate resolutions — quickly deciding who won a bet
Instant payouts — paying winners right away

World isn't alone. It's stepping into a competitive space against two big players:

Polymarket — the most "crypto-native" option, which accepts various cryptocurrencies and converts them into USDC (a stablecoin — a digital currency designed to always be worth about $1).
Kalshi — accepts USDC, Solana, and Bitcoin, then converts them into regular US dollars.

Just to avoid confusion: this new World is NOT the same as the human-verification project of the same name backed by Sam Altman (the CEO of OpenAI).

Why does this matter? Prediction markets are booming. Both Kalshi and Polymarket are spending heavily on advertising and forming big corporate partnerships. In fact, Kalshi is reportedly trying to raise money at a $40 billion valuation (the estimated total worth of the company).

In short, World is a fresh competitor trying to grab a piece of a fast-growing market by offering speedy, easy-to-use betting on real-world events — powered by Solana's high-speed technology.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/406900/solana-based-prediction-market-app-on-phantom-wallet-launches?utm_source=rss&utm_medium=rss