Polymarket Confirms ‘No’ on Strategy Bitcoin Sale After UMA Vote

The ruling enforces a market-page timing rule that treats confirmations after a contract window as ineligible, a choice that has left large traders with losses and renewed calls for clearer settlement rules.

Overview

UMA token holders completed a final review that upheld a “No” resolution with 98.6% of voting power, closing the dispute this week and finalizing the May market outcome.
Strategy disclosed in a June 1 regulatory filing that it sold 32 BTC between May 26 and May 31, a fact that split traders over whether the sale met the contract’s deadline.
Polymarket added a market-page clarification saying that confirmation achieved outside the market’s time frame does not qualify, and that note became the basis for the UMA vote.
Several traders, including 0xDinosaur and an anonymous participant who reported a $500,000 loss, said the ruling cost them sizable positions and criticized what they called a post-listing reinterpretation of rules.
Observers including Galaxy Research warned the episode highlights weak listing standards, concentrated oracle voting power, and a need for deterministic settlement rules to prevent future disputes.