Yes I think too that it's risky if most of the users will going to get a right bet on predictions instead of gaining from this event it will going to cause to them a great loss but let's see what will really going to be the outcome of this event.
I don't see BitMax loosing out of this product, this is because in the game of predictions there are always more loosers. This is evident in the sport betting which is prevalent in many countries. You find out that the business is booming for the creators and many companies are established daily to tap into the industry. This is solely because many persons don't predict right.
Associating the volatility card to gambling would be the correct way of putting it but then again it could be also be likened to margin trading also. It would pick up its utility with time as more people uses the card.