Polymarket Resolves Bitcoin Sale Dispute: May Contract Declared No, June Contract Yes
Polymarket says No for May, Yes for June after Strategy's recent bitcoin sale

Image: Coindesk
Polymarket has ruled the May contract regarding Strategy's bitcoin sale as No and the June contract as Yes. This decision followed a vote by UMA token holders, who determined that the public disclosure date of June 1 was the key factor, despite the sale occurring between May 26 and May 31.
- 01Polymarket's May 31 contract was ruled No after a vote by UMA token holders regarding Strategy's sale of 32 bitcoin.
- 02The decision hinged on the public disclosure date of June 1, not the actual sale date.
- 03A small group of large UMA holders significantly influenced the voting outcome, raising concerns about decentralized governance.
- 04Galaxy Research criticized the resolution, arguing that the sale should have counted based on the actual transaction dates.
- 05The largest vote against the May contract came from borntoolate.eth, with 3.11 million voting weight.
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Polymarket has resolved a contentious issue regarding Strategy's recent bitcoin sale, declaring the May 31 contract as No and the June 30 contract as Yes. This decision followed a vote by UMA token holders, who concluded that the public disclosure date of June 1 was the determining factor, despite the sale occurring between May 26 and May 31. The ruling sparked significant debate, particularly among bettors who believed the sale should have counted toward the May deadline. A small group of influential UMA holders, including wallets linked to Risk Labs, overwhelmingly swayed the vote against the May contract, raising concerns about the democratic nature of governance in decentralized finance. Notably, borntoolate.eth cast the largest vote against the May contract with 3.11 million voting weight. In contrast, Galaxy Research criticized the ruling, arguing that the market should have resolved to Yes based on the actual sale dates, highlighting the ongoing tensions within the Polymarket community regarding governance and resolution criteria.
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