On Saturday, Investor Ross Gerber criticized prediction markets, calling them "rigged" and "manipulated" and warning that investors are misreading them as reliable indicators.
Gerber Calls Prediction Markets ‘Rigged‘
In a post on X, Gerber pushed back against the growing use of prediction market data in financial and political analysis.
"People continue to quote predictions markets as some sort of fact. This is a bad way to look at things," he wrote.
He added that the platforms are vulnerable to distortion, claiming, "These markets are rigged and manipulated by the people who want you to think they are winning."
