Ethereum (ETH) founder Vitalik Buterin, whose bold statements and posts are closely followed by the market, this time shared his views on prediction markets.
At this point, Buterin criticized platforms like Polymarket for encouraging short-term bets such as “which team will win next week” or “will this happen”.
Buterin also argued that short-term bets, such as “The price of Bitcoin (BTC) will rise or fall within an hour,” do not hold significant social value in the long run.
At this point, Buterin stated that while prediction markets are theoretically successful tools, more meaningful applications are needed.
Although Buterin is against some betting practices, he revealed that last year he won $70,000 by betting against irrational trends with a capital of approximately $440,000 in the Polymarket prediction market.
Vitalik described his profit strategy as “anti-madness mode,” explaining that it involves identifying markets driven by irrational madness and betting that “crazy things won’t happen.”
*This is not investment advice.