The iron law of changing times often unfolds like this: new forces benchmark the old order until the latter's market share is eroded.

On-chain prediction markets are playing this role. How big is the traditional betting market? It ranges from 350 billion to 500 billion USD. But last year, the trading volume of prediction markets approached 50 billion USD — and this is just the beginning. More importantly, traditional betting is limited to sports events, while on-chain prediction markets can theoretically open markets for any event: political elections, economic data, technological breakthroughs, weather forecasts… The possibilities are endless.

The old order is realizing this threat. When new models break through the constraints of single application scenarios, and when trading becomes transparent and unrestricted by geography, the moat of traditional industries will gradually be weakened. This is not just a shift in market share, but a migration of paradigms.