Traders Sue Polymarket Over 'No' Ruling on Strategy Bitcoin Sale
Two Polymarket traders sued the prediction market platform in New York on July 3, alleging it changed a market’s rules after the fact to deny payout on a bet about whether Strategy would sell Bitcoin by May 31. They claim breach of contract, implied covenant of good faith, unjust enrichment, deceptive practices, and false advertising, and seek the value of their “Yes” shares plus damages and fees. Strategy did sell 32 BTC before May 31, but disclosed it on June 1; Polymarket then said confirmation outside the market timeframe did not count, and an UMA vote resolved the market “No.” The plaintiffs argue the filing was objective proof under the market’s own rules. The suit adds to broader scrutiny of Polymarket’s dispute process, governance, and market integrity.
