Ethereum founder Vitalik Buterin once again praised prediction markets and community notes in a post, and Elon Musk also responded in agreement.
(
Vitalik’s incisive analysis of Twitter’s fact-checking tool, with Musk also praising it—what are community notes?
)
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Vitalik praises prediction markets and community notes
Prediction markets are heating up and making records
Vitalik praises prediction markets and community notes
Vitalik
posted:
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Prediction markets and community notes are becoming the two flagship social cognition technologies of the 2020s. Both seek truth and democracy, based on open public participation rather than pre-selected elites. I hope to see more of such initiatives.
Vitalik’s tweet also garnered the approval of Tesla founder Elon Musk.
Vitalik
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, while prediction markets can incentivize people to predict future information and reveal it as quickly as possible.
Prediction markets are heating up and making records
Vitalik has repeatedly expressed his admiration for projects like Polymarket and ENS domains, and Polymarket has continued to see a rise in active users and trading volume, reaching new highs during the recent U.S. election.
(
Chain News compilation | V God discusses ENS “domain squatters” phenomenon, adjusts annual fees, and raises holding costs based on demand
)
Polymarket announced in May that it had raised $45 million in Series B funding, with investors including Peter Thiel and Vitalik.
According to
Dune Analytics
, Polymarket attracted nearly 30,000 active users per month after the funding, and the trading volume in June exceeded $110 million, all setting historical records.
Polymarket daily active users
Currently, most of Polymarket’s activity is driven by election predictions, with “Who will win the 2024 presidential election” being the platform’s most liquid prediction market, with over $206.6 million wagered.
On this, Coinbase senior engineering manager
Yuga Cohler
also tweeted recently:
Mainstream media constantly references Polymarket to gauge election probabilities, which is a milestone for cryptocurrency. No one mentions that Polymarket is built using crypto technology, which illustrates the product-market fit. Polymarket has quietly stood as a bastion against “manufactured consensus” and “misinformation.”
Polymarket
Vitalik
community notes
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