Traders Sue Polymarket Over MSTR Bitcoin Sale Contract Dispute, Seek $797K in Damages on July 3

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On July 3, traders William Wood and Thomas Bush filed a lawsuit against Polymarket and CEO Shayne Coplan in New York Supreme Court, alleging deceptive practices in resolving a prediction market contract related to MicroStrategy's Bitcoin sale. The plaintiffs held "Yes" shares in a market asking whether MSTR would sell Bitcoin by May 31; the company disclosed the sale of 32 BTC on June 1 after conducting it May 26-31. Polymarket resolved the market as "No" after retroactively adding language requiring public disclosure by May 31, not just completion of the sale. Plaintiffs seek damages of approximately $797,198 in denied redemption value or $596,281 in acquisition-cost restitution.
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