Polymarket contradicts UMA’s resolution on Barron Trump's involvement with DJT token
Quick Take
- Polymarket said the UMA’s “No” resolution to the market betting on if Barron was involved in the DJT token was “wrong.”
- The prediction market platform said that it will announce a “near-term solution” today.
Decentralized prediction market platform Polymarket said the resolution for the betting market on the DJT token from its oracle service UMA was “wrong” and that Polymarket is working on a “near-term solution” to be announced today.
Polymarket taps UMA, an optimistic oracle, to resolve wagers. Earlier UMA had determined “No” on a market betting on whether Barron Trump, son of Donald Trump, was involved in DJT.
“This market will resolve to ‘Yes’ if a preponderance of evidence suggests that Barron Trump was involved in the creation of the Solana token $DJT. Otherwise this market will solve to ‘No,’” the Polymarket rules stated.
Polymarket, however, took issue with UMA's determination. “We firmly believe that UMA got this resolution wrong,” Polymarket wrote in a post on X. “It’s critical to uphold the integrity of the marketplace and pricing. Standby.”
Bettors had placed over $1 million on the market, according to the Polymarket page. UMA’ s optimistic oracle operates to record verifiable truth or data for smart contracts. It’s used for dispute resolution with decisions voted upon by token holders.
RELATED INDICES
The saga surrounding the DJT token continues to unfold since the Solana-based memecoin went viral last week. While the Donald Trump campaign has yet to respond to questions about whether he was involved in the project, controversial entrepreneur Martin Shkreli claimed to have co-created DJT, according to blockchain sleuth ZachXBT.
Blockchain analytics platform Arkham even awarded a $150,000 bounty to ZachXBT, who first revealed that Shkreli was behind the DJT token.
The DJT price plunged 17.5% over the past 24 hours at the time of publication, according to data from GeckoTerminal.
The Block reached out to Polymarket, UMA and the Trump campaign for comment.
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