Polymarket Users Dissatisfied with Strategy Company's Bitcoin Trade Outcome

On the Polymarket prediction platform, the controversial contract regarding whether Strategy Company sold Bitcoin by May 31 was resolved in favor of "No." Although the company later officially confirmed selling 32 BTC within the specified period, market participants approved the negative outcome at the end of the two-stage dispute resolution process. Cointelegraph.com reports .

UMA Optimistic Oracle (UMA) token holders decided to close the market as "No" in a voting process that concluded early Thursday morning. According to data, 98.6% of participants supported this decision, with only 1.4% of users voting "Yes." Polymarket administration stated that no on-chain data or reliable reports confirmed the sale before the market deadline, and information published after the deadline would not be considered.

Strategy Company sold 32 BTC between May 26 and May 31, but reported this on Monday, after the market had closed. This incident has intensified doubts about the dispute resolution system on the Polymarket platform, which is based on token holdings. Wallets with the most UMA tokens have greater voting power, which is said to potentially affect the impartiality of decisions.

Many traders expressed dissatisfaction, emphasizing that the market should be based on the actual time the sale occurred, not the confirmation time. One unlucky trader revealed losing USD 500,000 due to this contract. In total, more than USD 80 million was wagered on this event.

According to Galaxy Research analysts, prediction markets should assess the actual event that occurred, not how rules are interpreted later. The dispute resolution process proved profitable for large token holders: for example, one of the largest voting wallets earned more than USD 299,000 through this process.