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Strategy sold Bitcoin for the first time since 2022, and a $50 million Polymarket bet is now in chaos.
Here is what happened.
On June 1, Strategy revealed it sold 32 BTC. The sale ran from May 26 to May 31 for about $2.5 million.
This was its first Bitcoin sale since December 2022. It broke the "Saylor never sells" story.
But Polymarket ran a market asking if Strategy would sell any Bitcoin by May 31. It pulled in over $50 million in volume.
Here is the problem.
Strategy sold the Bitcoin inside the window, between May 26 and May 31. But it did not announce the sale until June 1, after the window closed.
The market resolved to "No." It got disputed. It resolved to "No" again.
The reason given was that the public confirmation came after the deadline. The rules asked when the sale happened, not when it was announced.
This is not new for UMA. It already drew heavy fire over the $237 million Zelenskyy suit market and a US-Ukraine mineral deal that resolved "Yes" with no deal ever signed.
On a decentralized market, the truth is not what happened. It is what the voters decide happened.
The vote is ongoing.