Dyslexia is a prevalent reading disability whose underlying mechanisms are still disputed. We studied the neural mechanisms underlying dyslexia using a simple frequency-discrimination task. Though participants were asked to compare the 2-tones in each trial, implicit memory of previous trials affected their responses. We hypothesized that implicit memory decays faster among dyslexics. We tested this by increasing the temporal intervals between consecutive trials, and measuring the behavioral impact and ERP responses from the auditory cortex. Dyslexics showed a faster decay of implicit memory effects on both measures, with similar time constants. Finally, faster decay for dyslexics also characterized their benefits in oral reading rate. It decreased faster as a function of the time interval from the previous reading of the same non-word. We propose that shorter neural adaptation among dyslexics paradoxically accounts for their longer reading times, since it induces noisier and less reliable predictions for both simple and complex stimuli.