Coinbase CEO: Prediction markets are a substitute for traditional media and outperform traditional polls due to economic rewards and penalties.

Odaily Planet Daily reports that Coinbase CEO Brian Armstrong, in an interview with TBPN, commented on prediction markets, stating, "Prediction markets are far more than just sports or policy betting; they're actually an alternative to traditional media. They provide real signals from the market, which policymakers can use to determine which policies are best implemented and what would happen if those policies were actually implemented. Prediction markets have a stronger signal than traditional polls; telling the truth has real incentives, while lying has strong economic penalties."