According to WuSaid, Vitalik said that categorizing prediction markets like Polymarket as “gambling” is a serious misunderstanding of prediction markets. Prediction markets are a social cognition tool that allows the public to understand the importance of events and what is likely to happen.
Opinions in prediction markets are less susceptible to biased editorial opinion than social media or news sites. Conditional prediction markets have applications in governance, which we are already beginning to see.
