Fantasy markets are platforms where participants can create virtual teams or portfolios based on real-world events, such as sports games or financial markets. Players earn points or rewards based on the actual performance of the selected players or assets, making it a blend of strategy and luck. These markets often involve competitions where users can join leagues or contests, competing against others for prizes. Popular examples include fantasy football and fantasy stock trading, where participants engage in a simulated environment that mirrors real-life scenarios, enhancing the excitement of following their favorite teams or investments.