ChainCatcher reports, according to DLnews, Ethereum co-founder Vitalik Buterin responded to concerns about prediction markets threatening the integrity of sports events and elections.
He pointed out that the perverse incentives created by prediction markets have long existed in the stock market, where politicians can profit by shorting stocks and then press the “create disaster” button. He believes prediction markets should be compared to social media, which is more prone to spreading panic and misinformation, while prediction markets can provide useful information.
Vitalik stated that he has often panicked due to news headlines but calmed down after checking Polymarket prices, “Experienced people know the real situation, the probability of abnormal events is only 4%.” He cited Elon Musk’s 2024 claim that civil war in the UK is inevitable as an example, when Polymarket users gave a probability of only 3%.
