Polymarket Votes No on May Bitcoin Sale, Yes on June
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- Polymarket resolved the disputed bitcoin‑sale prediction markets by ruling the May 31 contract No and the June 30 contract Yes after a vote by UMA token holders.
- UMA token holders decided that the June 1 public disclosure date, not the actual sale date, determined the outcome, leading to the May contract being marked No.
- Large UMA voters such as borntoolate.eth, Kevin Chan, and Risk Labs‑affiliated wallets collectively contributed nearly 7 million voting weight, overwhelming the Yes side and controlling more than 25 times its voting power.
- Strategy disclosed on June 1 that it sold 32 bitcoin between May 26 and May 31, its first bitcoin sale in over three years.
- Galaxy Research criticized the resolution, arguing the market should have been based on the actual sale dates rather than the public disclosure date.
Why it matters: May bettors lose their stakes while June bettors win, and the ruling shows a handful of whale UMA voters can sway outcomes, underscoring centralization risks in decentralized prediction markets.
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