I've been following things like Polymarket, Kalshi, and a bunch of other prediction markets & sports betting for a long time. I've bet on a few myself, but it is super rare, maybe less than 5 times a year.

Everytime I talk about prediction markets to my other web3 friends, it seems like nobody bets and nobody knows anyone who really bets. So far I've only met 2 people who use prediction markets and its just for NBA/sports in general. Yet, there are millions of dollars being thrown in to Polymarket itself. Where is this money coming from? Is it bots? Are there actually people who bet? Or is it just a circle jerk of rich people and insider trading playing against themselves?

But genuine question tho, do you guys use any prediction market and why/why not? Whats encouraging/stopping you? For me, I don't bet often because I am not knowledgeable enough in most of the topics to even bet on it. I'm not too much of a degen myself