Polymarket faces controversy over $59 million in bets, as the platform's definition of "launch" sparks disputes

Jinse Finance reported that the prediction market Polymarket has become embroiled in controversy due to a $59 million bet. Traders placed large bets on whether the platform would launch a US version before the end of 2025. In November, Polymarket opened a regulated US platform to a small group of test users, but whether this "soft launch" meets the criteria for an "official launch" has sparked debate. This week, UMA token holders voted on the blockchain to determine the result as "yes," but many users protested, claiming that the ruling prioritized interpretation over facts. Currently, the related prize money has not yet been distributed, and this incident has also exposed the challenges prediction markets face when dealing with their own uncertainties.