US EditionPolymarket Hit by $160M Controversy Over Whether Ukraine's President Zelensky Wore a Suit at NATO
THE HAGUE, JUL 7 – More than $160 million was wagered on whether Zelenskyy wore a suit, with disputes arising from oracle validators influencing the prediction market outcome.
- Polymarket faces controversy over a $160 million bet about whether President Zelenskyy wore a suit at the NATO summit on June 24, 2025.
- The dispute arose due to differing interpretations on Zelenskyy's attire, causing UMA Protocol validators to overturn the initial "yes" outcome twice.
- Polymarket users have expressed frustration, coordinating on Discord and some considering legal action against Polymarket and UMA over resolution decisions.
- Hart Lumbur, UMA cofounder, denies manipulation claims and says there is no evidence, adding he looks forward to design improvements after this "suit-or-not market" dust settles.
- This controversy highlights challenges in decentralized prediction markets, straining Polymarket's reputation and user trust while occurring amid its $1 billion valuation fundraising led by Founders Fund.
12 Articles
12 Articles
404media.co
Cryptocurrency News | Cryptocurrency Prices | Market CapPolymarket Gamblers Go to War Over Whether Zelenskyy Wore a Suit
Polymarket, an online betting marketplace that bills itself as the future of news, can’t decide whether or not Ukrainian president Volodomyr Zelenskyy wore a suit during a recent appearance in Europe. The gambling site is set to make a final judgement about the question in a few hours and more than $160 million in crypto is riding on it.Polymarket is a gambling website where users predict the outcome of binary events. It gained prominence in the…
Polymarket Hit by $160M Controversy Over Whether Ukraine's President Zelensky Wore a Suit at NATO
Crypto-focused prediction market Polymarket is facing a fresh dose of criticism this week in relation to a market on whether Ukrainian President Volodymyr Zelenskyy would wear a suit before July.More than $160 million worth of crypto was bet on the market, with the initial outcome of "yes" being disputed by the validators behind UMA, the oracle protocol that determines the results.The price of "yes" has now plummeted to $0.04 from $0.19, giving …
Polymarket Embroiled in $160M Controversy Over Whether Zelensky Wore a Suit at NATO
Crypto-focused prediction market Polymarket is facing a fresh dose of criticism this week in relation to a market on whether Ukrainian President Volodymyr Zelenskyy would wear a suit before July. More than $160 million worth of crypto was bet on the market, with the
The Polymarket community is raising awareness about an oracle attack
The Polymarket community raised the alarm on flawed oracle decisions. Voting on UMA protocol swayed a prediction market with over $200M at stake. Polymarket is facing backlash after the resolution of one prediction pair showed unfairness and a possible governance attack from UMA holders. The prediction pair in question was targeting current news, where issues may be contentious to resolve. In this case, Polymarket opened a token pair for the qu…
A $242M+ Polymarket bet on whether President Zelenskyy would wear a suit before July 2025 closed as “No” despite claims he did, raising governance concerns
Sebastian Sinclair / Decrypt: A $242M+ Polymarket bet on whether President Zelenskyy would wear a suit before July 2025 closed as “No” despite claims he did, raising governance concerns — Discontent over the market's resolution has reignited scrutiny of UMA's dispute system and the influence of large Polymarket stakeholders.
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
To view factuality data please Upgrade to Premium
