Prediction markets are transitioning from mere speculative platforms to influential social information mediums, leveraging blockchain for transparency and verifiability. Platforms like Polymarket have shown their capability in accurately predicting outcomes such as U.S. elections and crypto events. The integration of AI and DeFi is further enhancing these markets, positioning them as decentralized systems for pricing uncertainty across various sectors, including governance and climate. With major entities like Trump Media entering the space, the impact of prediction markets on real-world events is becoming more pronounced.