Polymarket dispute over Strategy Bitcoin sale attracts $118 million

A popular bet on the prediction platform Polymarket is causing significant uproar in the crypto community. The market revolved around the question of whether Strategy would sell Bitcoin before 31 May 2026, and ultimately attracted a trading volume of as much as $118 million. The result is ‘No’, but not everyone agrees.

Bitcoin is available at Bitvavo and Bybit.

‘No’ result fuels debate on the platform

The bet on Polymarket intensifies as the deadline passes and the market officially closes at ‘No’. Users are divided over the outcome. Some participants question the decision and wonder whether Polymarket’s later explanation correctly applies the original rules of the bet.

Polymarket itself acknowledges the conflict. The platform announces that it will provide clarification by 1:00 p.m. ET on 1 June at the latest. At the same time, the company states that if no statement appears by then, no further explanation will follow and the market will proceed to settlement at that point. That stance only fuels the discussion further.

Strategy and Bitcoin already in the news

The turmoil surrounding this bet does not come out of nowhere. Strategy, the company founded by Michael Saylor, is selling Bitcoin for the first time since 2022, attracting significant market attention. That news also touches on broader Bitcoin developments and fuels speculation about what exactly is happening behind the scenes. Moreover, an article also emerges about potential insiders selling IBIT just before Saylor’s Bitcoin dump.

Meanwhile, the Bitcoin price stands at $69,323, a drop of 4.7% in the past 24 hours. That price decline fits a broader trend in which Bitcoin dips below $70,000 while $759 million in crypto positions are liquidated. This is also not the first time Polymarket itself has been in the news. Previously, a Google engineer was arrested for insider trading on the platform, raising questions about the integrity of prediction markets in general.