Vitalik: The probabilities given by prediction markets are often more accurate than the judgments formed by media influence

ChainCatcher news, August 27, Ethereum founder Vitalik Buterin stated in response to recent discussions about prediction markets, "In coin voting, if you vote incorrectly, there is no penalty; the only risk is that you might personally push the result to the edge of that tiny probability. In prediction markets, if you judge incorrectly, you will lose money, and if you bet a large amount, the losses can be significant. Personally, I feel that the probabilities given by prediction markets are usually more accurate than the judgments I form under the influence of (professional or social) media atmosphere. They actually help me stay rational and not overestimate the importance of things (but they also make me aware of the importance when truly significant events occur)."