Polymarket: My mistake with the ETH ETF approval
I'm still kicking myself over the ETH ETF approval market on Polymarket. My mistake wasn't necessarily in picking the wrong side; I was initially short, expecting further delays, which was the consensus at the time. The real error was a complete lack of adaptation when the narrative shifted abruptly. When the SEC started signaling a potential pivot, and news broke about the 19b-4 amendments, I stayed stubbornly in my original position, fixated on my initial research. I kept thinking, "They can't approve it this quickly, there are still too many hurdles." This mental rigidity, clinging to a pre-conceived notion despite clear incoming data, cost me. I ended up closing for a loss when the writing was clearly on the wall, missing the significant run-up for those on the 'Yes' side. It's a classic case of failing to update your thesis in real-time, letting confirmation bias blind you to evolving probabilities. The market moves on new information, and if you don't adjust with it, you're just going to get run over.