Ethereum 
$2,644 co-founder Vitalik Buterin spoke out against criticism of the Polymarket platform regarding conflicts in the Middle East. Buterin argued that Polymarket played an important role in preventing misinformation spread on social media.
Buterin Supported Polymarket
Buterin emphasized Polymarket’s contributions to ensuring information accuracy. He noted that the platform helps reduce confusion by making predictions based on real events. He included the following statements in his statement:
There are various people who make harmful and inaccurate predictions about conflicts. Seeing predictions from people who are invested in real events can help people stay level-headed.
Polymarket’s Growth and Financing Plans
Polymarket grew in popularity during the US election season by allowing users to predict the outcomes of various events. In May, Buterin participated in a $70 million investment round for Polymarket, which also included investors such as Peter Thiel’s Founders Fund.
Ethical Discussions and Limits of the Platform
Polymarket’s predictions on Middle East conflicts sparked ethical debates. Buterin stated that he opposes bets that could encourage illegal actions, such as assassination predictions.
The platform runs on Polygon, Ethereum’s Layer-2 Blockchain, and users can buy and sell resulting shares with cryptocurrencies. Those who make correct predictions get their shares back, while those who make incorrect predictions become worthless.
On the other hand, it was recently reported that Polymarket has plans to launch its own cryptocurrency, and this cryptocurrency will play an important role in the future operations of the platform. This new cryptocurrency aims to increase user interaction and market liquidity.
The platform’s goal is to ensure the free flow of accurate information without government or corporate censorship. Buterin stated that this approach supports people’s access to healthy information.
Polymarket is seen as an important tool to prevent the spread of misinformation. The strong support in the financing of the platform increases its reliability. Setting ethical boundaries is critical for future operations.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
