Buterin Sounds Alarm on Prediction Markets He Helped Build
Ethereum co-founder says prediction markets are converging on an 'unhealthy product market fit' despite backing Polymarket.
Vitalik Buterin is getting cold feet about prediction markets — the very thing he helped champion.
The Ethereum co-founder, who backed Polymarket, publicly warned that prediction markets are "over-converging to an unhealthy product market fit." That's a polite way of saying the space might be heading somewhere he doesn't love.
It's a striking admission from someone whose support helped legitimize the sector. Polymarket exploded in popularity as a go-to platform for betting on real-world outcomes, from elections to economic indicators. But Buterin now sees the trajectory as problematic.
He didn't mince words. The "starting to worry" framing suggests this isn't a passing concern — it's a shift in thinking from one of crypto's most influential voices.
When the guy who backed the rocket starts questioning the flight path, the industry should probably pay attention.