[rfv6723]

Dismissing "objective probability" is a convenient philosophical retreat that strips Polymarket of its only legitimate function. If the market isn’t an attempt to aggregate information toward a binary, external "ground truth," then it isn't a forecasting tool—it’s a "Keynesian Beauty Contest" where people bet on what they think others believe rather than what will actually happen.

Without an objective anchor to measure against, concepts like "mispricing" or "alpha" become logically impossible; you cannot have a "wrong" price if you don't believe a "right" probability exists. If we accept that the market signal is just a reflection of whale liquidity and "Persian bribes" rather than a calculated proximity to reality, then the platform is merely a math-washed gambling hall. Ultimately, a prediction market that abandons the pursuit of objective truth loses its epistemic utility and its entire reason to exist.

[testaccount28]

prediction markets are a useful tool for aggregating information about uncertain events.