Yes "gambling" and "Prediction markets" are like apple and oranges.

In the early days, just like how Bitcoin was seen or perceived as a drug money used only criminals, in the same way many smart people still see "Prediction markets" as gambling.

This happens to any new asset class.

A good question to ask is: If Prediction markets were gambling, how come Kalshi has been winning all the court injunction in Nevada and New Jersey?