Well said, @bonnazhu He doesn’t see PolyMarket, Kalshi, or Loudio as prediction markets, but rather compares them to 'information exchanges.' This makes the core of the entire industry very clear: It’s super easy to create an exchange, but creating an exchange with liquidity is extremely difficult. So, in the end, for the same political event or sports game, there will inevitably be one main market. That’s why new prediction markets can only move in the direction of aggregation. After all, they’re all DEXs—just directly import the orders from these major markets, add some unique features of your own, and you can still carve out a niche.