> For the complete documentation index, see [llms.txt](https://seer-2.gitbook.io/seer/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://seer-2.gitbook.io/seer/why-did-previous-prediction-markets-fail.md).

# Why did previous prediction markets fail?

### Wrong reasons <a href="#rwhldb587va0" id="rwhldb587va0"></a>

Before looking at reasons why previous prediction markets failed, we’ll look at some common criticisms of prediction markets that we believe to be mistaken.