Two Traders Sue Polymarket Over Strategy Bitcoin Sale Market Resolution on July 3

BTC2.45%
Two Polymarket traders, William Wood and Thomas Bush, filed a lawsuit in New York Supreme Court on July 3, alleging the platform wrongly resolved a market on whether Strategy would sell Bitcoin by May 31 as "No." Strategy disclosed selling 32 BTC between May 26 and 31, but Polymarket rejected the payout after the firm's SEC filing arrived on June 1, one day after the deadline. The plaintiffs contend Polymarket retroactively changed its rules and are seeking $1 per share on their "Yes" positions, plus damages. According to a trader's statement, the dispute cost original traders $6.5 million in total.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments