Strategy's $2.5 Million Bitcoin Sale Triggers $15 Million Polymarket Dispute

1 articles · Updated · CoinDesk · Jun 1

$14.65 million in bets on Polymarket's May 31 contract were thrown into review after Strategy disclosed it sold 32 bitcoin for about $2.5 million.
The dispute turns on timing: the 8-K was filed June 1, but it says the sales occurred between May 26 and May 31 and were presented as of May 31, 4:00 p.m. ET.
'Yes' bettors say the contract's reliance on filings and onchain data means the late-May transactions qualify, while 'No' holders argue nothing was publicly disclosed before the May 31 deadline.
UMA's optimistic oracle will make the final call, typically after about two days, while Strategy's June 30 and Dec. 31 sale markets now trade near certain 'Yes' and total related volume has reached $24.7 million.
The sale marked Strategy's first publicized bitcoin disposal and was aimed at funding distributions on its STRC preferred stock, shifting the market debate from whether it would sell to when the sale counts.

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