Architectural Concept Design Collection

  • CONTACT
  • MARKETCAP
  • BLOG
Finances Investing and Crypto News
  • BOOKMARKS
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Reading: Polymarket under fire as whale votes distort Zelenskyy suit outcome: what’s going on?
Share
  • bitcoinBitcoin(BTC)$107,644.93
  • ethereumEthereum(ETH)$2,529.81
  • tetherTether USDt(USDT)$1.00
  • rippleXRP(XRP)$2.25
  • binancecoinBNB(BNB)$658.43
  • solanaSolana(SOL)$148.63
  • usd-coinUSDC(USDC)$1.00
  • tronTRON(TRX)$0.286697
  • dogecoinDogecoin(DOGE)$0.166402
  • cardanoCardano(ADA)$0.57
Finances Investing and Crypto NewsFinances Investing and Crypto News
0
Font ResizerAa
  • Finance
  • Investment
  • Crypto
  • Market
  • News
Search
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Finances Investing and Crypto News > Blog > Crypto > Polymarket under fire as whale votes distort Zelenskyy suit outcome: what’s going on?
Crypto

Polymarket under fire as whale votes distort Zelenskyy suit outcome: what’s going on?

admin
Last updated: 08/07/2025 3:23 Sáng
admin
Published 08/07/2025
Share


When Ukrainian President Volodymyr Zelenskyy stepped out in a black suit last month, the world saw it, except Polymarket’s oracle voters. Now, a $160 million betting frenzy hinges on whether truth can outweigh token-weighted manipulation.

On June 24, Ukrainian President Volodymyr Zelenskyy arrived at the NATO summit in The Hague wearing a black military-style jacket, collared shirt, and matching trousers, an outfit immediately described as a “suit” by Reuters, BBC, the New York Post, and even Polymarket’s own social media account.

The outfit, a rare departure from the military fatigues Zelenskyy has favored since Russia’s invasion, sparked headlines, memes, and, unexpectedly, a high-stakes crypto dispute.

On Polymarket, the prediction market asking whether Zelenskyy would don a suit before July attracted tens of millions in volume and a growing crowd of traders betting on what seemed like a straightforward resolution. Yet, in the days following his appearance, deep-pocketed traders flooded the market with “No” bets, exploiting a quirk in UMA’s oracle system that rewards consensus over factual accuracy.

How UMA’s oracle incentives created a $160m reality distortion field

At the heart of the issue lies the UMA oracle, the mechanism used to resolve markets on Polymarket. UMA’s system incentivizes participants to vote in alignment with the majority to earn rewards.

Crucially, votes aren’t equal. Their weight is determined by the number of tokens staked, not the number of voters. This creates a powerful asymmetry: a single whale with enough tokens can swing the outcome, regardless of the facts or the intent of the market.

The Zelenskyy market exposed this flaw in high resolution. Despite official NATO footage, Reuters’ confirmation of a “suit-style jacket,” and even Polymarket’s own tweet declaring “President Zelenskyy in a suit last night,” UMA voters initially leaned toward “No.” Their rationale: a prior market had resolved similarly for a military-style outfit in May, ignoring the fact that this time, over 50 major publications explicitly used the word “suit.”

Traders who bet “Yes” erupted when Polymarket’s official account (@PolymarketIntel) retroactively labeled itself “community-run” after acknowledging the suit.

Holders of YES – don’t give up.
We all know the whales are trying to rig the UMA vote on the Zelensky suit market. But that doesn’t mean we should stay silent. This is a critical moment

Polymarket claims to care about truth and decentralization so let’s hold them to it.
Speak… pic.twitter.com/5W9YnDsNdV

— Atlantis liquidity (@Atlantislq) July 2, 2025

The backlash intensified as Martin Shkreli livestreamed accusations of market manipulation, while the PolyWhale Repellers, a collective of aggrieved traders, began compiling evidence of oracle misconduct.

As the July 8 resolution deadline looms, the fallout could redefine the future of prediction markets. A “No” outcome would validate fears that whale capital can override verifiable events. A “Yes” could restore faith, but only if paired with meaningful oracle reforms.

Either way, the suit saga has already exposed a trillion-dollar question: Can decentralized platforms handle the truth, or will they devolve into casinos where the house always wins?



You Might Also Like

HBAR price at risk as key Hedera Hashgraph metric crashes 82%

Bitcoin’s $102k market price grants miners 182% profit

SEI price tests key support after 80% breakout — are bulls ready for another push?

Solayer price crashes 62% in 2 days — what happened?

TRON hits record active addresses, TRX eyes breakout

TAGGED:distortfireoutcomePolymarketsuitvoteswhalewhatsZelenskyy

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article Calamos unveils ‘Protected Bitcoin’ strategy for institutional investors
Leave a Comment

Để lại một bình luận Hủy

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *

Follow US

Find US on Socials
FacebookLike
- Advertisement -
Ad image
Popular News
Polymarket under fire as whale votes distort Zelenskyy suit outcome: what’s going on?
Emergency Funds: Importance and How to Build One
Debt Management: Strategies to Pay Off Debt Efficiently
Riot Platforms unloads 475 BTC in its biggest single-month Bitcoin sale to date
Revolut partners with Lightspark to add Bitcoin Lightning for UK and EEA users
- Advertisement -
Ad image

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Finances Investing and Crypto News

FICN.net brings you the latest in finance, investment, and crypto. Stay informed with expert insights, market analysis, and beginner guides. Whether you're new or experienced, FICN.net helps you explore opportunities, manage risks, and make smarter financial decisions in a fast-changing world.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Ad image
© 2024 Finance, Investment, and Crypto News. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?