Thales is an Ethereum protocol that facilitates the creation of peer-to-peer parimutuel markets. These markets allow participants to place collateral in a pool, and the final payout is determined once the market-settling event is completed. Thales leverages the sUSD stablecoin as collateral and relies on Chainlink data feeds for market settlement accuracy. The protocol is decentralized, with governance conducted by the ThalesDAO through the Thales Council, elected by THALES token holders.