Vitalik Criticizes the 'Gamblification' of Prediction Markets and Proposes Improvements

Ethereum (ETH) co-founder Vitalik Buterin, on the 14th, expressed his view that decentralized prediction markets are currently too biased towards betting on short-term movements of cryptocurrencies and presented a proposal for improvement.

Buterin pointed out the following issues with the current prediction markets:

Prediction markets seem to be overly focused on an unhealthy product-market fit. Specifically, they are preoccupied with bets on short-term cryptocurrency prices, sports betting, and other activities that provide a dopamine rush but lack long-term satisfaction or social informational value.