Zelensky's 'To Wear or Not to Wear a Suit': A $200 Million Controversy

This is no joke; Zelensky's 'To Wear or Not to Wear a Suit' before July has truly become a hot topic on Polymarket, sparking a $200 million controversy.

The facts themselves are not complicated. On June 25, Zelensky attended an event in a suit, and mainstream interpretations from BBC, designers, and others concluded — it was a suit. Logically, the result should have been settled, and the $200 million standoff would have reached its conclusion.

However, the on-chain results have stalled, with the 'Yes' fluctuating, which shows the twists and turns involved. Some individuals, undeterred, bet big on the 'Yes' option, with thousands of dollars at stake. One big player sold off 'Yes' and made over $50,000 in floating profits in one night. If the final result is determined to be 'Yes', profits could soar to $2.9 million.

However, it currently seems that, even though reality and most people know he indeed wore a suit, the final ruling is still not optimistic~

Why?

The key lies in Polymarket relying on the decentralized oracle UMA for result determination. Its operational mechanism allows holders to participate in dispute resolution via voting, which makes it easy for top players to manipulate the outcome in some topical events:

✔ In the first round of voting, the oracle judged it as 'Yes', but was rejected by big players.

✘ In the second round of voting, it changed to 'No', and controversy still exists.

It has now entered the final ruling process, with only 20 hours left, and the probability of 'No' is as high as 98%, almost a done deal. The outcome will likely be dominated once again by the voting power of whales.

This is not the first time; there have been instances where the oracle's conclusions were 'reversed' by whale voting, even when the community generally believed the answer was clear, the on-chain result was completely opposite.

More controversially, the officials admitted that voting was manipulated but maintained that 'rules are rules', insisting on not making modifications and watching major players turn the tide......

If this continues, how can PM's oracle mechanism truly win the community's trust? It is self-destructive.