Prediction markets have become popular in the past two years, but most people only see speculators gambling within them. In fact, those who truly make stable profits are often the silent arbitrageurs.

Polymarket, as the most mainstream prediction market platform, has evolved into a complex ecosystem. In this ecosystem, arbitrageurs are almost the smartest group—they don't necessarily need to predict the outcome of topics correctly, but instead profit through platform mechanism loopholes, liquidity differences, mispriced assets, and other factors.

These arbitrageurs employ a variety of profit-making methods. Some exploit price discrepancies across platforms, some act as market makers in less liquid, niche markets to earn spreads, and others take advantage of shallow order book depth to create trading opportunities. They are like "scavengers" in prediction markets—each trade is carefully calculated, with risk management executed flawlessly.

Today, let's delve into how these arbitrageurs consistently profit in prediction markets and the logic behind each method. Interested friends can analyze and ponder carefully.