Key facts
- Two traders are suing Polymarket in New York.
- The lawsuit concerns a market resolution on Strategy's Bitcoin sale.
- The traders allege Polymarket wrongly resolved the market as 'No.'
- They claim Polymarket retroactively changed rules to deny payouts.
- The traders held 'Yes' shares in the disputed market.
- Strategy disclosed a sale within the market's timeframe.
A lawsuit has been filed in New York against the prediction market platform Polymarket by two traders. The core of the dispute revolves around Polymarket's resolution of a market related to Strategy's Bitcoin sale. The traders allege that Polymarket incorrectly determined the outcome of this market as 'No.' They contend that Polymarket subsequently altered its rules retroactively to deny payouts to traders who held 'Yes' shares in the market. This action by Polymarket allegedly occurred despite Strategy having disclosed that a sale took place within the timeframe stipulated by the market's rules. The traders are seeking to overturn Polymarket's decision and secure their rightful payouts based on the disclosed sale.