2 hours ago
Polymarket CEO Shayne Coplan responded to a caller New York Times nonfiction that scrutinized the platform, clarifying cardinal points astir its non-partisan stance and transparency.
The nonfiction described Polymarket arsenic a “crypto website wherever predetermination likelihood plaything in… favor” of erstwhile President Donald Trump, which Coplan felt mischaracterized the company’s intent and operations.
In a statement posted connected societal media, Coplan emphasized that Polymarket is strictly non-partisan, countering claims that it caters to circumstantial governmental groups.
He wrote:
“We’re told we’re Dem operatives and MAGA, depending connected the day. Unfortunately, the communicative is overmuch little juicy — we’re conscionable marketplace nerds who deliberation prediction markets supply the nationalist with a much-needed alternate information source.”
He highlighted that the level offers a abstraction for market-based forecasts, enabling users to prosecute with data-driven predictions alternatively than algorithms that propulsion them into echo chambers.
The New York Times portion besides alluded to Polymarket’s emergence during the 2020 Presidential race, erstwhile the level gained attraction for accurately predicting the result of the elections that year.
However, Coplan clarified that the company’s imaginativeness extends beyond authorities and stressed that the broader extremity is to assistance radical recognize marketplace forecasts crossed assorted domains.
Addressing different assertion successful the article, Coplan took contented with the communicative surrounding Peter Thiel’s alleged power implicit Polymarket. He said:
“It’s crazy, I person to accidental this, but it’s clip to enactment the ‘Thiel-controlled’ communicative to rest. He has nary nonstop interaction oregon power with the company.”
He noted that Thiel’s task superior firm, Founders Fund, is 1 of implicit 50 investors with lone a number stake, and Thiel himself has nary engagement successful the company’s operations oregon pricing.
Coplan emphasized the platform’s peer-to-peer model, contrasting it with accepted finance. He argued that Polymarket’s transparency is simply a feature, not a bug, allowing users to audit each usage and prices directly.
He further explains that Polymarket does not acceptable likelihood but alternatively allows users to enactment connected their ain views if they judge a marketplace is mispriced.
The Polymarket CEO wrote:
“The marketplace sets the price, not the operator.”
As Polymarket continues to grow, Coplan expressed optimism astir the aboriginal of prediction markets. He envisions a scenery wherever decision-making is guided by marketplace information alternatively than sensationalism and wherever superior supports much informed opinions.
The station Polymarket CEO says level is strictly ‘non-partisan’ successful effect to NYT article appeared archetypal connected CryptoSlate.
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