Polymarket, rapidly becoming the most popular blockchain-based betting market, has brought on well-regarded statistician and election commentator Nate Silver as an advisor, Axios reported on Tuesday. 

Prediction markets, once relegated to the realm of academic theory, are a way of aggregating knowledge among a crowd of users. Theoretically, and increasingly in practice, these users are incentivized to shed their biases by putting money behind their votes, sometimes called “skin in the game.”

Founded in 2020, Polymarket has become one of the most popular sites for betting on the U.S. elections. A poll set to close on Nov. 4, 2024, asking who will win the presidential election, has over $262 million riding on it. Users currently favor former President Donald Trump, whose rankings …