When I first encountered the concept of prediction markets, I was really confused, but recently seeing Kalshi's incident made me suddenly understand why regulation is so important😅

So Kalshi originally wanted to launch a contract on the transfer of American college athletes, but the NCAA directly freaked out? I’ve gradually come to understand the logic behind this—if you could really bet on the decisions of student athletes' transfers, how much pressure would that put on the students? It could also lead to harassment issues. Plus, it involves the integrity of the competition, and it feels like someone might manipulate the game results because of bets🤔

This made me realize that although prediction markets sound really cool, not everything can be turned into a contract. They require a clear regulatory framework, or they could easily harm real individuals. Kalshi ultimately shelved this plan, which I think also reflects how the crypto industry is gradually taking these issues seriously.

Now I’m even more curious—what are the legitimate application scenarios for prediction markets? Are there any experts who can share some related knowledge so that newcomers like me can understand where the boundaries of this field are?