Two Traders Sue Polymarket Over Bitcoin Sale Market Resolution on July 3

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According to the filing, William Wood and Thomas Bush filed a lawsuit in New York Supreme Court on July 3 against Polymarket, CEO Shayne Coplan, and CMO Matthew Modabber, alleging breach of contract and deceptive practices in the resolution of a prediction market tied to whether Strategy would sell bitcoin by May 31. Strategy disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission that it had sold 32 BTC between May 26 and 31. Polymarket ultimately resolved the market as "No" after adding clarifying language that plaintiffs allege effectively required public confirmation by the deadline rather than merely a sale by that date, violating the platform's stated rules-based resolution promise. Plaintiffs seek damages including the $1.00-per-share redemption value of their winning "Yes" shares, claiming that Strategy's 8-K filing constituted clear proof under the market's stated rules designating company disclosures as the primary resolution source.
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