Ethereum founder Vitalik Buterin has expressed criticism of short-term prediction markets, such as those promoted by Polymarket, for their lack of social significance. In an interview, Buterin highlighted that markets focusing on outcomes like "Which team will win next week" or "Will Bitcoin's price rise or fall in an hour" do not contribute meaningfully to society. While acknowledging the theoretical success of prediction markets as a tool, he emphasized the need for more impactful applications. Buterin shared his personal experience with Polymarket, where he turned a principal of $440,000 into a $70,000 profit by betting against irrational market sentiments. He noted that when markets enter a "crazy mode," betting on the opposite outcome often yields profits, underscoring the potential for strategic gains despite the limited broader value of such markets.