Advertisement
UK markets closed

  • FTSE 100

    8,164.12
    -15.56 (-0.19%)
     

  • FTSE 250

    20,286.03
    -45.77 (-0.23%)
     

  • AIM

    764.38
    -0.09 (-0.01%)
     

  • GBP/EUR

    1.1796
    -0.0009 (-0.07%)
     

  • GBP/USD

    1.2646
    +0.0005 (+0.04%)
     

  • Bitcoin GBP

    48,171.02
    +646.75 (+1.36%)
     

  • CMC Crypto 200

    1,267.75
    -16.08 (-1.25%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • DOW

    39,118.86
    -45.20 (-0.12%)
     

  • CRUDE OIL

    81.46
    -0.28 (-0.34%)
     

  • GOLD FUTURES

    2,336.90
    +0.30 (+0.01%)
     

  • NIKKEI 225

    39,583.08
    +241.54 (+0.61%)
     

  • HANG SENG

    17,718.61
    +2.14 (+0.01%)
     

  • DAX

    18,235.45
    +24.90 (+0.14%)
     

  • CAC 40

    7,479.40
    -51.32 (-0.68%)
     
Property :

8 UK holiday home businesses you could buy now

A holiday let could be a very sound investment, providing a decent income, capital growth and — somewhere to escape

UPDATE: Polymarket Says It's 'Conclusive' Barron Trump Was Involved in $DJT

Sam Reynolds
Updated ·3-min read

  • In a rare move, Polymarket has contradicted its decentralized oracle service UMA with regard to the resolution of a market betting on whether Barron Trump was likely involved with the DJT token.

  • In a tweet late Thursday, Polymarket said Barron Trump was involved in the token in some way, but did not provide any evidence for the claim.

  • Neither Barron Trump nor Donald Trump's campaign has made an official statement about the token.

Polymarket has overruled UMA, a decentralized oracle service that referees the fast-growing platform's crypto-based prediction markets, by saying that Barron Trump was involved in the DJT token "in some way," and said it plans to refund holders of the "yes" side of the contract – though the X (formerly Twitter) account for the service did not provide any evidence supporting its claim.

Controversy has been brewing for days since UMA resolved a market asking whether it was more likely than not that Barron Trump, son of former U.S. President Donald Trump, was involved in a meme coin called DJT. The oracle service decided several times the answer was "no," but holders of "yes" shares protested.

On Wednesday, Polymarket said it believed UMA got it wrong, and it would soon announce a fix. Then, on Thursday, it posted that "it is conclusive that he was, in fact, involved in some way" with DJT.

The prediction market also said that aside from refunding holders of the "yes" side of the contract, it is "working to improve our oracle and resolution methodology."

ADVERTISEMENT

Polymarket's surprise move is the latest wrinkle in the two-week-long saga of DJT, a Trump-themed memecoin that neither the Trump campaign nor Barron has acknowledged or denied being involved in.

"This market will resolve to 'Yes' if a preponderance of evidence suggests that Barron Trump was involved in the creation of the Solana token $DJT. Otherwise this market will resolve to 'No,'" the contract on Polymarket read. "Determination as to whether Barron was involved in the creation of $DJT will be made by this market's decentralized resolver, UMA, and will take into account all available evidence as of 12 PM ET, June 23."

Whenever the outcome of a prediction market is disputed, UMA, a decentralized "optimistic" oracle, is brought in to resolve it with UMA tokenholders voting on the outcome. In the case of the DJT market, an overwhelming majority of UMA holders voted for the "no" resolution.

In total, bettors put more than $1 million on the line, and amid the radio silence from the Trump family and campaign, Martin “Pharma Bro” Shkreli, a convicted felon, has been adamantly making public statements that Barron Trump was involved.

On Wednesday, Shkreli posted a series of screenshots on X purporting to show one of his associates saying that he's "trying to get Barron to come out of his shell," but that lawyers are likely advising the former president's son not to talk.

This isn't the first time UMA as a method of contract resolution has faced controversy. Questions on what it meant to "find" the missing OceanGate submersible, which imploded near the wreckage of the Titanic, put its relationship with Polymarket in the spotlight last fall.

In May, this relationship was once again tested when some bettors questioned if an Ethereum exchange-traded fund (ETF) was approved – UMA resolved the contract to yes – or if it was still working its way through the bureaucratic leviathan of the Securities and Exchange Commission.

Polymarket CEO Shayne Coplan didn't immediately respond to a request for comments sent by Telegram.

UPDATE (June 28, 01:24 UTC): Updates with Polymarket announcement of market conclusion and refund.