The concept isn't bad but the problem with these markets isn't necessarily the amounts played, rather it's how they're resolved. What exactly counts as 'event h

The concept isn't bad but the problem with these markets isn't necessarily the amounts played, rather it's how they're resolved. What exactly counts as 'event has happened' and 'event has not happened'? I think Polymarket uses some kind of oracle¹ to establish the outcomes. What I know for sure is that there have been a couple of cases of fraudulently set up markets already, so anyone who wants to bet has to really understand the conditions before jumping in, even if they're very sure about the outcome. Again, I think it's a cool concept but I'd advice people to stay away from touching these until there's a solution for that problem. The small amounts people are betting are likely a reflection of this problem, because it's hard to understand if the setup is trustworthy. ¹ https://en.wikipedia.org/wiki/Blockchain_oracle https://en.wikipedia.org/wiki/Blockchain_oracle