In brief – Two traders sued Polymarket in New York, alleging it wrongly resolved a market on whether Strategy would sell Bitcoin by May 31 as “No.” – Strategy disclosed having sold 32 BTC inside that window, but Polymarket ruled the sale wasn’t publicly confirmed in time, which…
e plaintiffs call a retroactive rule change. – The suit names CEO Shayne Coplan and seeks the $1-per-share payout on the traders’ “Yes” shares, plus damages. Two Polymarket traders are suing the prediction market platform, claiming it rewrote a market’s rules after the fact to deny them a winning payout tied to Strategy’s Bitcoin sale
William Wood and Thomas Bush filed the complaint in the New York Supreme Court on July 3, naming Polymarket CEO Shayne Coplan and chief marketing officer Matthew Modabber. 1 month ago, Polymarket scammed me for $500K, with 1,868 traders losing a total of $6.5M. Now we’re taking Polymarket to court. https:// — willo2 (@willo2_Poly) July 6, 2026 They allege breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment in the alternative, deceptive acts and practices, and false advertising, and are seeking the $1-per-share value of their “Yes” shares, plus damages and legal fees. Strategy’s disputed Bitcoin sale The disputed market asked whether Strategy would sell any Bitcoin by May 31.
The Michael Saylor-led firm did exactly that, disclosing in a June 1 SEC filing that it sold 32 BTC between May 26 and 31, its first such sale since 2022. However, because the disclosure landed a day after the deadline, Polymarket added a note that “confirmation achieved outside of the market’s timeframe does not qualify,” and the contract resolved “No” after a vote by holders of UMA, the oracle Polymarket uses to settle disputes. It would not be Strategy’s last sale: the company has since outlined a plan to sell up to $1.25 billion more to fund its dividends, and this week offloaded some $216 million in Bitcoin under its “BTC monetization…