Ethereum co-founder Vitalik Buterin has expressed his support for the existence of a Hezbollah betting section on the decentralized predictions platform Polymarket. The platform includes markets that allow bets on significant geopolitical events, such as whether Israel will invade Lebanon, if there will be a ceasefire, and potential U.S. military actions in the region this year.
Concerns were raised by crypto community member Legendary in a post on X, arguing that the betting section trivializes war, making it resemble a football game for bets. In response, Buterin clarified that while Polymarket functions as a betting site from a trader's perspective, it acts as a news platform from a viewer's standpoint.
Buterin stated, "There are all kinds of people (including elites) on Twitter and the internet making harmful and inaccurate predictions about conflicts. Being able to see if people with actual stakes believe something has a 2% chance or a 50% chance is a valuable feature that can help keep people sane." He emphasized that the aim is not about profiting from misfortunes but creating a space where speech has consequences, punishing both unjustified fearmongering and complacency.
When questioned by Chainlink community liaison Zach Rynes about the ethical implications of assassination prediction markets, Buterin expressed his opposition to such ideas, asserting that the market should not incentivize harmful actions. Rynes acknowledged the extremity of the example but maintained that any prediction market linked to influenceable events might encourage real-world actions, even unintentionally.
Buterin participated in Polymarket’s recent $45 million Series B funding round, led by Peter Thiel’s Founders Fund. Reports suggest that Polymarket is contemplating raising over $50 million in new capital and launching a token.
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