What is the connection between Ethereum and Polymarket, and what does Jewish law say?

A report on Channel 14 explains the connection between the Ethereum blockchain network and the Polymarket prediction market platform, while discussing the halachic question of whether trading on the platform constitutes gambling. The report compares Polymarket to its competitor Kalshi and analyzes the technological and regulatory differences.

A report on Channel 14 explains the connection between the Ethereum blockchain network and the Polymarket prediction market platform, and discusses the halachic question of whether trading on such a platform constitutes forbidden gambling. The report opens with an explanation of Ethereum, a decentralized blockchain network launched in 2015, and smart contracts that enable automatic transactions without intermediaries. It distinguishes between the network (Ethereum) and its currency, Ether (ETH). It then explains that Polymarket operates on the Polygon network, which is based on Ethereum technology, and that trading on it is conducted using a stablecoin (USDC) to avoid exposure to ETH volatility. The report compares Polymarket to its competitor, Kalshi, which operates under US regulatory oversight and is not blockchain-based in the same way. In the halachic section, the report raises the question of whether trading on Polymarket is considered 'dice playing' from the Talmud, discussing the concepts of 'asmachta' and 'settlement of the world'. The report notes that the distinction between trading a financial asset and gambling may be significant, but does not reach a definitive halachic conclusion and recommends consulting a halachic authority.