A crypto prediction market is facing heat over bets on whether Zelenskyy wore a suit. Here's the lowdown on the Polymarket, Zelenskyy, and controversy.
The crypto prediction market Polymarket is currently embroiled in a controversy involving Ukrainian President Volodymyr Zelenskyy and... a suit. Yes, you read that right. Millions of dollars are at stake over whether Zelenskyy sported formal attire at a NATO summit. Buckle up, because this is a wild ride.
The $160 Million Bet: Suit or No Suit?
Polymarket, a platform where users can bet on future events, opened a market asking if Zelenskyy would wear a suit before July. The event that sparked the most debate was the NATO summit on June 24th. Did Zelenskyy's dark jacket and pants combo constitute a suit? That's where the drama began.
UMA Validators Under Fire
The initial ruling leaned towards “yes,” but UMA, the oracle protocol responsible for resolving the market, decided against it. This decision sent the price of the “yes” token plummeting, triggering accusations of vote manipulation. Users are crying foul, suggesting that large token holders (
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