Will Agent Swarms Price the Future on Prediction Markets? with Zack Pokorny

Feb 26, 2026

Beimnet Abebe, trader at Galaxy Trading who watches AI-driven market risk and geopolitics. Zack Pokorny, researcher at Galaxy Research focused on lending, DeFi governance, and prediction markets. They discuss AI anxiety driving volatility. They debate geopolitical tail risks and Bitcoin range dynamics. They explore DeFi vs CeFi lending shifts, DAO legal frameworks, agent liability, and how prediction markets price information.

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ADVICE

Align Token Rights With Legal Structures

Consider legal and governance structures that align token rights with economic value to make tokens investable.
Zack suggests novel legal wrappers and KPI‑linked token unlocks to tie team rewards to real performance.

INSIGHT

AI Agents Create New Legal Gray Zones

AI agents raise unresolved legal questions about liability, personhood, and accountability when they act in the real world.
Zack and Alex note agents could form companies, perform transactions, or commit crimes and current law offers little clarity.

INSIGHT

Agent Actions Break Developer Protections

Passive open‑source distribution offers developer protections, but deploying goal-directed agents may remove those shields.
Zack notes uploading code to GitHub differs from intentionally sending an agent to steal assets on your behalf.

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Alex Thorn talks with Zack Pokorny (Galaxy Research) about crypto lending markets, DAO and AI agents having issues with legal personhood, prediction markets and what rulemaking might say about insider information and market manipulation, and Coinbase’s announcement that their Ethereum L2 Base is leaving the Optimism Superchain. Alex also talks with Beimnet Abebe (Galaxy Trading) about market risks from AI anxiety and geopolitical tensions.

Participants, along with Galaxy, hold a financial interest in Bitcoin (BTC). Galaxy regularly engages in buying and selling BTC, including hedging transactions, for its own proprietary accounts and on behalf of its counterparties. Galaxy also provides services to vehicles that invest in BTC. If the value of such assets increases, those vehicles may benefit, and Galaxy’s service fees may increase accordingly. The valuation in this communication is based on technical, fundamental, and market analysis and not on any formal valuation method. For more information, please refer to Galaxy’s public filings and statements. Cryptocurrencies, including BTC, are inherently volatile and risky and ultimate market movements may not align with this statement.

For additional risks related to digital assets, please refer to the risk factors contained in filings Galaxy Digital Inc. makes with the Securities and Exchange Commission (the “SEC”) from time to time, including in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, filed with the SEC on November 10, 2025, available at ⁠www.sec.gov ⁠.

This episode was recorded on Wednesday, February 25, 2026.