#DeFi创新发展 It's truly emotional to see this news. A prediction market platform has been valued at $11 billion in just a few years, and the co-founder has become the youngest female billionaire. It sounds like a fairy tale. But upon closer reflection, many issues are actually exposed behind this.

First, regulatory authorities clearly can't keep up with the pace of innovation. Is Kalshi really a financial derivative or gambling? Different states have different classifications, and this gray area is most prone to risks. On the user side, many people can't distinguish whether this is investment or gambling, and may blindly follow the trend.

What worries me most is that these platforms essentially encourage people to bet on future events. On the surface, it's called a "prediction market," but in reality, it can easily evolve into a hotbed of speculative gambling. Especially during economic downturns, more people might be attracted by high returns, ultimately risking their hard-earned money.

My advice is: stay highly vigilant towards such emerging models and don't be fooled by superficial prosperity. Both regulatory authorities and ordinary investors need to analyze the risks calmly, rather than blindly chasing hype. After all, in the financial markets, pies don't fall from the sky, and stories of getting rich overnight often hide more people's blood and tears.