Jsquare Investment Team has released a report titled 'Prediction Markets and Emerging Primitives,' detailing the evolution and current state of prediction markets. These markets, which allow trading based on future event outcomes, have shown potential for more accurate forecasting than traditional methods. The report highlights platforms such as Betfair, InTrade, Augur, and Polymarket, with Polymarket achieving $25 billion in trading volume during the 2024 U.S. election. The report also addresses challenges facing prediction markets, including regulatory uncertainty, liquidity issues, and settlement mechanisms. It identifies emerging innovations like prediction derivatives, advanced automated market makers (AMMs), and interoperability with decentralized finance (DeFi) protocols. Additionally, the report explores investment opportunities in prediction market derivatives, permissionless market creation, and decentralized sports betting platforms.