Prediction markets are exchange based markets that trade on the outcome of future events. They have been demonstrated in academic research to be the best way to generate an accurate signal on the likelihood of a future outcome compared to polling, or other methods. Given this property, they can be used as the basis of governance decisions by leveraging the prediction to inform, or even enact, governance decisions
\nZeitgeist PM is building the technology for the Zeitgeist blockchain network, a decentralized infrastructure for prediction markets and prediction market based governance, called "futarchy".