Ethereum co-founder and Polymarket investor Vitalik Buterin has called for a shift in the focus of prediction markets, urging platforms to move away from hosting bets on ‘dumb opinions’ and celebrity hype. Buterin emphasized that the primary value of decentralized prediction markets lies in their ability to act as an epistemic tool for society, providing high-quality information and data-driven insights into complex events. He suggested that the industry should focus more on conditional prediction markets, which can assist in governance and policy-making by forecasting the outcomes of specific decisions. While Polymarket has seen record-breaking activity during the 2024 U.S. election cycle, Buterin’s critique highlights a desire for the sector to evolve beyond speculative gambling and toward becoming a reliable pillar of the information economy.
Source: Polymarket investor Vitalik Buterin says prediction markets need to stop catering to ‘dumb opinions’
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