Shayne Coplan, CEO of Polymarket, believes that chasing tokens that could rise 100-fold is a form of “irrational exuberance” and resembles a game of hot potato, with buyers trying to resell before the price falls to zero.

Coplan says Polymarket users prefer trading predictions on events whose probabilities are relatively easy to estimate over chasing tokens that could rise 100-fold. He acknowledges that a small number of people may be able to build wealth through this kind of token chasing.

Prediction market trading volume on Polymarket reached $1.21 billion over the past 7 days. Kalshi recorded $2.3 billion during the same period.

Several U.S. states have taken legal action against Polymarket, Kalshi, or both over sports event prediction contracts. Many countries and territories have also restricted or blocked access to Polymarket.

Source: https://tintucbitcoin.com/ceo-polymarket-san-token-tang-100-lan-la-hung-phan-phi-ly/

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