Towards creating potential applications in business intelligence, consumer research and economic forecasting, the African technology sector and its stakeholders are exploring how digital platforms can convert public expectations about future events into data businesses.

“The value is in creating a mechanism where people can continuously express what they think will happen as information changes,” Femi Laniyan, Chief Executive Officer and Co-Founder of Wysemarket, stated while explaining how prediction markets could complement traditional research methods by providing continuously updated insights into what people expect to happen, helping organisations track emerging trends and anticipate developments.

According to Laniyan, “Researchers can use this to understand economic trends and shifting market sentiment. You are not just capturing an opinion; you are capturing how that expectation moves.”

Unlike conventional surveys, which typically capture responses at a particular point in time, prediction markets can reflect shifts in sentiment as they happen by using digital platforms to allow participants trade on the outcomes of future events. As new information emerges, participants adjust their positions, generating market signals that can be analysed to understand how expectations change over time.

This model has attracted growing global attention, with platforms such as Kalshi and Polymarket expanding the range of events on which participants can trade.

According to the Pew Research Center, combined monthly trading volume on the two platforms rose from less than $5 billion in September 2025 to about $24 billion in April 2026.

Researchers have also examined how prediction markets aggregate information held by different individuals.

A 2026 study by the National Bureau of Economic Research explored their potential as a source of frequently updated information on economic expectations.

For businesses, the technology could provide additional signals for assessing consumer behaviour, product launches, economic developments and cultural trends. However, Laniyan said prediction markets were intended to complement existing research and analytics tools, not replace them.

“We see prediction markets as a complement to traditional research. There is information in what people expect to happen, and when you can observe those expectations changing in real time, it gives businesses and researchers another signal to work with,” Laniyan said.

In Africa, the development of these platforms presents an opportunity for technology companies to organise information generated across digital communities and translate it into insights that businesses and researchers can use.

Laniyan said: “At Wysemarket, a Nigeria-based prediction-market platform, users are allowed to forecast outcomes across entertainment, politics, sports, culture and other areas. The platform aims to turn expectations about real-world events into measurable market signals. The company sees an opportunity to capture knowledge distributed across African communities and make collective expectations more useful to individuals and organisations.”

He continued: “Africa is home to the world’s most digitally native and adaptive population. By launching Wysemarket, we aren’t just giving users a platform to forecast; we are giving them a stake in the future. Our goal is to turn collective intuition into a valuable data asset that empowers individuals and informs markets across the continent, Laniyan stated.

However, the usefulness of prediction-market data depends on how markets are structured, the reliability of available information and the level of participation. Limited trading activity or liquidity could weaken the signals generated, making it important to assess them alongside other research and evidence.

For African technology companies, the opportunity extends beyond building platforms for digital transactions. Prediction markets could also create new ways to organise information about public expectations and examine how sentiment responds to economic, political and social developments.

As the technology develops, its value to businesses and researchers will depend on how reliably the data generated can inform decisions about consumers, markets and the wider economy.