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BlockBeats News, June 2nd, Strategy disclosed the sale of 32 BTC last week, triggering a settlement dispute on Polymarket, a prediction market with a trading volume of over $75 million. The market was: Will Strategy sell any Bitcoin before May 31st? Traders could choose "Yes" or "No." Strategy disclosed in a filing to the SEC on Monday that the company sold 32 BTC between May 26th and May 31st, generating approximately $2.5 million to support its preferred stock issuance-related allocations. This is the first time Strategy has disclosed a Bitcoin sale since December 2022.
Traders supporting a "Yes" settlement believe the SEC filing clearly shows the sale occurred before the deadline; traders supporting a "No" settlement argue that the relevant information was not made public before the market closed, so it should settle as "No." This market has settled as "No" twice before, with two subsequent disputes, and is currently in the final review stage. Polymarket later added a clarification on the page stating that "confirmations obtained outside the market time window do not meet the criteria," seemingly leaning towards settling in favor of the "No" side. Such disputes have been a recurring challenge for prediction market platforms, debating whether the criteria for determining outcomes should be the time of the event or the time the evidence of the event becomes public.
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