Key facts
- MicroStrategy sold 32 BTC between May 26 and May 31, 2026, for approximately $2.5 million.
- The sale was disclosed in an SEC Form 8-K filed on June 1, 2026.
- A Polymarket bet on whether MicroStrategy would sell Bitcoin by May 31, 2026, is in dispute.
- Traders argue the sale occurred within the timeframe, regardless of the filing date.
- Polymarket's proposed resolution favored 'No' due to the filing date being after the deadline.
- The dispute is being decided by a vote of UMA token holders.
A significant dispute has arisen on the prediction market platform Polymarket concerning a bet on whether MicroStrategy would sell Bitcoin by May 31, 2026. The market, with over $85 million in total trading volume, is facing a challenge after MicroStrategy confirmed it sold 32 BTC between May 26 and May 31, 2026, for approximately $2.5 million. The core of the controversy lies in Polymarket's proposed 'No' resolution, based on the fact that the Form 8-K SEC filing disclosing the sale was submitted on June 1, one day after the market's deadline. Traders who backed 'Yes' argue that the market's wording referred to the occurrence of the sale, not its public disclosure, and that the SEC filing explicitly places the transaction before the deadline. This situation has led to severe community backlash, with users questioning the platform's credibility and the integrity of its oracle system. The resolution is now subject to a binding vote by UMA token holders, a process that has previously been criticized for concentrated voting power and potential conflicts of interest, as highlighted by a Wall Street Journal investigation. This dispute marks a critical test for Polymarket, which is also navigating a congressional investigation and past insider trading arrests tied to its platform.