Base founder Jesse Pollak admits a “wrong bet” on social—now perps and prediction markets lag

Intel Brief: Jesse Pollak, creator of Base, is stepping back from leading the Base App after admitting he was “definitively wrong” about betting on social experiences to drive crypto adoption.

The fallout is measurable: Base is reportedly trailing in prediction markets and perpetual futures (perps), even with teams building in both segments. Pollak said the chain fell behind in “key areas” that became increasingly critical, calling out that perps (shoutout Avantis) and prediction markets (shoutout Limitless) exist—but were “well behind scaled competitors,” highlighting competitive pressure in crypto trading and price-betting venues.

Pollak added that the market “disintegrated completely,” resulting in a direct strategic consequence: Base fell behind in areas that became increasingly important. He pointed to prediction markets and perpetual futures (perps) as two fronts where the chain lagged competitors. While he highlighted perps (“shoutout avantis!”) and prediction markets (“shoutout limitless!”), he stressed they were still “well behind” scaled rivals.