One of the reasons betting sites are different from prediction markets

[Mhizlove]

They both have different purpose,we all know that betting sites are built for gambling experience while prediction market are built to reflect people's opinions about their future events and the way it's been designed is not to entertain bettors rather measure there probability and belief. From another angle the prediction market is like an info tool and not gambling platform that's why the structures are totally different, if you're used to parlay it won't feel interesting rather the goals will come out accurate but that's not betting

[xLays]

Personally, I think it’s obvious that Polymarket is basically gambling disguised as trading.
I haven’t used Polymarket yet, but I already understand how it works and what features it offers. It’s just different in the way bets are placed and settled.
On Polymarket, it depends on you when you want to trade your position. You can sell your shares anytime before the event ends, meaning you can lock in profit or cut your losses whenever you want.
In regular sports betting, you don’t have that level of control. Cashout is not always available and sometimes you’re forced to wait until the event is finished. Unlike Polymarket, where you can exit your position anytime. (I'm not pretty sure with this. cmiiw)

[justinlamode]

You are right about the prediction market, they don't allow parlay because bets are settled independently as per contracts. Unless there is completely redesign of the system, it will continue to function as a 2ways netting platform.  This should be one advantage betting sites have over prediction markets although parlays increases the risk as well as the reward. I think that prediction market is designed for entirely different purpose.

[hedgeh0g]

Personally, I think it’s obvious that Polymarket is basically gambling disguised as trading.
I haven’t used Polymarket yet, but I already understand how it works and what features it offers. It’s just different in the way bets are placed and settled.
On Polymarket, it depends on you when you want to trade your position. You can sell your shares anytime before the event ends, meaning you can lock in profit or cut your losses whenever you want.
In regular sports betting, you don’t have that level of control. Cashout is not always available and sometimes you’re forced to wait until the event is finished. Unlike Polymarket, where you can exit your position anytime. (I'm not pretty sure with this. cmiiw)

Yes, most likely more position control allows professionals to earn more. For example, if a professional understands geopolitics very well and has an advantage and quickly monitors the situation, he can buy and sell several times until the bet reaches the deadline. This way, he will be able to extract more profit, while inexperienced players will lose more on this bet, making chaotic bets and convincing themselves that they understand something, and also hope for luck.

[shawonngp]

What about licenses? Are gambling license for sports betting and same license for Polymarket or Kalshi to accept sports bets the same? Even though both offer prediction services, gambling license most probably is different from making prediction license. I am not 100% accurate with it. But I can place sports bet on Polymarket, but unable to do the same or even place same bet on several online casinos.

As far as I know, most of the casino sites operate their business with licenses, although we think casino sites are anonymous but they are definitely licensed. Not only is it necessary to get a license specifically for sports betting, but to do the overall casino business, the government of that country must license it. I have no experience with prediction market because still I haven't signed up for prediction market yet, and don't know how it works, but of course there are some differences between casino gambling and prediction market, like in casino we get many live game features but prediction market doesn't have that, and we can cash out at any moment during the game which is not available in prediction market. I don't know if my idea is right or wrong.

[Alphakilo]

They both have different purpose,we all know that betting sites are built for gambling experience while prediction market are built to reflect people's opinions about their future events and the way it's been designed is not to entertain bettors rather measure there probability and belief. From another angle the prediction market is like an info tool and not gambling platform that's why the structures are totally different, if you're used to parlay it won't feel interesting rather the goals will come out accurate but that's not betting

The predictions market is driven by user trading volumes and this makes up the odds, while it also uses a P2p model which is different from what betting platforms offer.
They both have the users they appeal to and you can't love parlays and try to wish it were available on the predictions market when you know fully well, that there are license agreement and regulatory policies that govern both the predictions market and the betting platforms alike.
The predictions market would have to solve their liquidity issues or simply switch to become a gambling platform for parlays to be offered as a function of part of the service they offer.

[programmer3666]

I know prediction markets are betting site. Even Kalshi is facing unnoticed lawsuit from Washington attorney general, saying it is a betting site. But this thread is about the reason people on prediction markets can not go for parlay.

Am I wrong? Is parlay possible on prediction market?

I have visited Polymarket and I noticed parlay is not possible. These is one of the reasons many people on betting sites like Stake and Duelbit can not go for Prediction markets for their favourite clubs match to be on.

Prediction markets and betting sites may kind of look similar in some key aspects, but they don’t work the same way. Because betting sites are designed for things like parlays, where you can combine multiple bets to increase potential winnings. But for prediction markets, on the other hand, they are more about forecasting outcomes individually, like yes or no kind of decisions on a single event. That’s why you don’t usually see features like parlays there.

[Rashlyowl]

Am I wrong? Is parlay possible on prediction market?

As far as I know, parlays are not possible in prediction markets, that's because prediction markets go into more specific things & cannot be stacked like the mechanism that exists in parlays. At least that's it for now, but we never know whether it will be possible in the future or not, because this industry is constantly evolving & there will definitely be new innovations from the site.