Prediction Markets Are Reshaping Financial Systems, Says Tulip King

According to Jinse, Tulip King argues that prediction markets, particularly Polymarket, are redefining how information is priced and how markets operate. He compares Polymarket to the iPhone, suggesting it is not just a better betting platform but a replacement for traditional financial markets. The article highlights how prediction markets allow for multi-dimensional trading, enabling users to express complex views on interconnected events. It also discusses how liquidity fragmentation in prediction markets could lead to the rise of specialized market makers. Furthermore, the author claims that prediction markets are evolving into bounty markets, where financial incentives can influence real-world outcomes. This shift, he argues, will eventually disrupt traditional financial sectors like sports betting, derivatives, and insurance.