Trump’s Bitcoin Speech Sparks $2.6 Million Polymarket Controversy

Some Polymarket bettors have challenged the platform’s settlement of $2.6 million in bets on Trump’s Bitcoin reserve pledge in Nashville.

Last weekend, former US President and Republican candidate Donald Trump announced 20,000 Bitcoin (BTC) Participants in the 2024 plans for stop government for sale if elected in November. The U.S. government is the largest geopolitical owner of Bitcoin, with a hoard of 183,000 BTC worth more than $12.7 billion, according to Arkham.

Polymarket judged that Trump’s statements about maintaining American BTC reserves would effectively create a national strategic reserve of Bitcoin.

“For the purposes of this market, it is enough for Trump to announce a strategic reserve of bitcoin. So, this market should resolve to ‘Yes,’” according to the Polygon-based decentralized prediction platform.

Discord among Polymarket bettors

Allegations of fraud and discontent filled the comments section of the prediction market’s “Will Trump announce a strategic Bitcoin reserve?” bet. Several bettors who bought “No” shares from the poll felt shortchanged by the platform’s decision.

The recurring chorus among critics was that Trump’s plans to keep Bitcoin American differ from the announcement of a strategic reserve. Many users, who likely bought “Yes” shares and are waiting for returns on their bets, strongly disputed that a reserve and a strategic reserve are separate ideas.

Winning bettors urged disgruntled users to dump their “No” shares before Polymarket finalizes the market. This is the last procedure before bettors receive winnings or confirm losses. The bet was disputed at least twice, but a different betting outcome seemed unlikely.

Gamblers Debate Resolution “Will Trump Announce Strategic Bitcoin Reserve?” | Source: Polymarket

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