Prediction market has been touted as one of the potential killer apps of crypto, but no breakout product yet. Thoughts on why?

My quick takes are 1) hard to get liquidity unless huge events like a presidential election, and 2) payout conditions and odds are hard to understand.

{I just don't get prediction markets. The likes of SSC tout them as some great insight into reality -- they just feel like a game theoretic to me; ppl betting against other ppl's opinions. This is just me revealing my ignorance tho.}