Polymarket Rules Strategy's 32-Bitcoin Sale No for May, Yes for June
Updated
Updated · CoinDesk · Jun 4
Polymarket Rules Strategy's 32-Bitcoin Sale No for May, Yes for June
3 articles · Updated · CoinDesk · Jun 4
Summary
UMA voters resolved Polymarket's disputed Strategy markets by marking the May 31 contract No and the June 30 contract Yes, even though Strategy said it sold 32 bitcoin between May 26 and May 31.
June 1 became the decisive date because voters treated Strategy's public disclosure—not the sale window itself—as the event that counted for contract resolution.
3.11 million voting weight from borntoolate.eth led the No side, with four largest No voters controlling nearly 7 million weight—more than 25 times the entire Yes side.
Galaxy Research, which had significant exposure to the May market, argued Strategy's SEC filing plainly showed the sale occurred before May 31 and that the contract should have resolved Yes.
The outcome has intensified criticism that UMA-based dispute resolution on Polymarket can be steered by a small group of large holders, undercutting DeFi's decentralization claims.