Prediction Market Polymarket Is A Useful News Site: Vitalik Buterin

Key Points:

• In his article, Buterin praises the prediction market Polymarket for combining gambling and informative tools.
• The platform recently invited users to close their US president prediction bets and offered rewards for reinvesting winnings in other markets.

Vitalik Buterin, co-founder of Ethereum, published his article “From Prediction Markets to Info Finance” on November 9, 2024. In the article, he expressed excitement about the potential of the underlying technology behind prediction markets.

Read more: Polymarket User ‘Walletmobile’ Risks $10 Million on Trump’s Victory 

Prediction Market Polymarket More Than A Betting Site

Prediction market Polymarket is one of the top-performing platforms that has drawn the attention of Ethereum co-founder Vitalik Buterin. He termed the platform as an innovative tool that provides both gambling and informational values.

Buterin also mentioned that Polymarket has proved to be particularly effective at providing insights on events like the US election.

“If you are a bettor, then you can deposit to Polymarket, and for you it’s a betting site. If you are not a bettor, then you can read the charts, and for you it’s a news site,” he said.

The co-founder of Ethereum also emphasized that this type of platform allows every user to make bets on any future outcome, thus creating a market of predictions, which at the same time is a source of valuable information.

Polymarket Introduces Rewards for Reinvesting Winning

Recently, the prediction market Polymarket encouraged bettors to close their US presidential prediction bets with a unique mix of entertainment and information to equip users. Also, the site brought in incentives for users who reinvest their winnings back into the platform.

Reports indicate that Polymarket is planning to raise an additional $50 million in September, in addition to the successful campaign in January this year for $70 million. Major investors such as Peter Thiel’s Founders Fund and Buterin himself participated in the round.