Trump’s Bitcoin speech sparks $2.6m Polymarket dispute

Some Polymarket bettors have objected to the platform’s decision to place $2.6 million worth of bets on Trump’s Bitcoin reserve promise in Nashville.

This past weekend, former US President and Republican candidate Donald Trump informed 20,000 Bitcoin (BTC) 2024 participants of his plans to halt government sales if elected in November. According to Arkham, the US government is the largest geopolitical Bitcoin holder with a treasury of 183,000 BTC worth over $12.7 billion.

Polymarket concluded that Trump’s statements regarding America’s holding of BTC assets would effectively create a strategic national Bitcoin stockpile.

“For the purposes of this market, Trump announcing a strategic bitcoin reserve is sufficient. Therefore, this market should decide ‘Yes,’” according to the decentralized prediction platform based on Polygon.

Disagreement between Polymarket bookmakers

Allegations of fraud and discontent filled the betting comment section on the prediction market “Will Trump announce strategic Bitcoin reserve?” Several bettors who bought “No” stocks in the poll felt cheated by the platform’s decision.

The recurring chorus among debaters argued that Trump’s plans to hold America’s Bitcoin were different from announcing a strategic reserve. Many users who had likely bought “Yes” stocks and would be making a return on their bets vehemently disagreed that a stock and a strategic reserve were separate ideas.

Winning bettors urged disgruntled users to sell their “No” stakes before Polymarket closed the market. This is the final procedure before bettors can collect their winnings or confirm their losses. The bet was contested at least twice, but a different bet result seemed unlikely.

Bettors discuss the decision “Will Trump announce strategic Bitcoin reserve?” | Source: Polymarket