I a prediction market you are typically betting on a binary outcome.

Will the Scorchers win the big bash Yes or No. You can bet on yes if you think they will or No if you think they won’t. Price of yes and no are determined by how much money has been bet on each outcome.

Right now it is 14 sats for Yes and 86 sats for no. If you bet 14 sats on yes and they win you will get 100 sats back. If they lose you will get nothing. If you bet 86 sats on no and they don’t win you will get 100 sats back. If they do win you will get nothing.

It is also possible to sell you shares. Let’s say I buy 1000 shares of Scorchers Yes for 14 sats and they start the season very well and many people start betting on them that will cause the price to bet them to rise. Let’s say it goes to 50 sats. I can now sell my shares I bout for 14 sats for 50 and pocket the difference.

I think @grayruby explained it the simplest possible way.