Ethereum founder Vitalik Buterin once again praised the prediction market and community notes, and Musk also replied in agreement.
Vitalik made a post praising the prediction market and community notes, stating that they are becoming the two flagship social cognitive technologies of the 2020s. Both technologies pursue truth and democracy, based on open public participation rather than preselected elites. He hopes to see more of these things.
Vitalik’s tweet also received support from Elon Musk, the founder of Tesla.
Vitalik then added: “In fact, I think prediction markets and community notes complement each other. The only major criticism of community notes is that they update too slowly, and prediction markets can motivate people to predict the information that will appear later and try to reveal it as quickly as possible.”
Vitalik has expressed his love for projects such as Polymarket and ENS domain names multiple times, and Polymarket, through the heat of the recent US election, has seen a continuous increase in active users and trading volume, reaching historic highs.
Polymarket announced a $45 million Series B financing in May, with investors including Peter Thiel and Vitalik. According to Dune Analytics, after the financing, Polymarket attracted nearly 30,000 active users per month, with a trading volume exceeding $110 million in June, both reaching historic highs.
Most of Polymarket’s current activities are driven by election predictions, with “Who will win the 2024 presidential election” being the most liquid prediction market on the platform, with bets exceeding $206.6 million.
Coinbase’s senior engineering manager Yuga Cohler recently tweeted: “Mainstream media continues to quote Polymarket to measure election probabilities, which is a milestone for cryptocurrencies. No one mentions that Polymarket is built on encryption technology. This situation illustrates the market fit of its products. Polymarket has quietly served as a fortress against ‘artificially created consensus’ and ‘misinformation’.”
Vitalik
Community notes