Vitalik Buterin: Prediction Markets Should Not Be Classified as Gambling

According to WuSaid, Ethereum co-founder Vitalik Buterin has stated that labelling prediction markets like Polymarket as "gambling" is a significant misconception. Buterin emphasized that prediction markets serve as a valuable social cognition tool, enabling the public to better understand the significance of events and their potential outcomes.He argued that opinions formed within prediction markets are less prone to biased editorial influence compared to those on social media or news platforms. Additionally, Buterin highlighted the growing applications of conditional prediction markets in governance, which are already starting to be observed.