Polymarket.com - Bets on any events (politics, sports, crypto markets, and more)

[julerz12]

Polymarket has now been sued by the guy who lost $500k to that May 31st market prediction of Microstrategy's BTC sell-off
The full copy of the lawsuit has been posted on X here: https://x.com/BurwickLaw/status/2074200534102237288 ^source
The lawsuit was filed in the Supreme Court of the State of New York just a few days ago, on July 03, 2026.

This platform also has a lawsuit filed by the National Association of Consumer Advocates, and this was in June, 2026. 
Details about it can be found here: https://cryptobriefing.com/polymarket-sued-targeting-college-students/

What do you think? Does that dude from X have a chance of getting that $500k?

[Hispo]

Polymarket has now been sued by the guy who lost $500k to that May 31st market prediction of Microstrategy's BTC sell-off
The full copy of the lawsuit has been posted on X here: https://x.com/BurwickLaw/status/2074200534102237288 ^source
The lawsuit was filed in the Supreme Court of the State of New York just a few days ago, on July 03, 2026.

This platform also has a lawsuit filed by the National Association of Consumer Advocates, and this was in June, 2026. 
Details about it can be found here: https://cryptobriefing.com/polymarket-sued-targeting-college-students/

What do you think? Does that dude from X have a chance of getting that $500k?

The fact someone unironically has the balls to bet half million dollars on Polymarket, money which they are not even comfortable with losing and then ending up losing at of it it is beyond comprehension to me.

There are way too many degenerate gamblers and bettors in this market who were supposed to never enter in the first place.
I personally believe his money is pretty much gone, he won't have much chance to get it back.

This is supposed to be taken as a lesson by all of us. There is no such a thing as a safe bet, so we are not supposed to mess with money we will need to cover our needs in the future.

It would be quite funny if polymarket opened a betting market on whether that guy will be able to get his money back or not.

[iv4n]

What do you think? Does that dude from X have a chance of getting that $500k?

He has a chance, or at least his lawyer thinks so... they didn't sue them for no reason, and a 0% chance. After all, the sale happened before the deadline, but Polymarket resolved that market in their own way.

We have seen that many times, having a case and winning a case are two different things. We need to wait and see what the judge has to say, if they don't settle before...

[dwyane36]

What do you think? Does that dude from X have a chance of getting that $500k?

He has a chance, or at least his lawyer thinks so... they didn't sue them for no reason, and a 0% chance. After all, the sale happened before the deadline, but Polymarket resolved that market in their own way.

We have seen that many times, having a case and winning a case are two different things. We need to wait and see what the judge has to say, if they don't settle before...

It will be interesting to see how the judge interprets the terms of this prediction market. Polymarket itself points out that neither information from MSTR nor data from the blockchain nor consensus data from authoritative sources have confirmed that MicroStrategy sold bitcoins during the specified period. In other words, they point out that the report on the BTC sale was published on June 1, not in May. If the judge deems these terms appropriate, this dude won’t stand a chance.
Although in my opinion, Polymarket bears some blame here, since they initially set ambiguous terms for this prediction market.

[Wakate]

Polymarket has now been sued by the guy who lost $500k to that May 31st market prediction of Microstrategy's BTC sell-off
The full copy of the lawsuit has been posted on X here: https://x.com/BurwickLaw/status/2074200534102237288 ^source
The lawsuit was filed in the Supreme Court of the State of New York just a few days ago, on July 03, 2026.

This platform also has a lawsuit filed by the National Association of Consumer Advocates, and this was in June, 2026.  
Details about it can be found here: https://cryptobriefing.com/polymarket-sued-targeting-college-students/

What do you think? Does that dude from X have a chance of getting that $500k?

If the polymarket has been getting multiple court cases, this can be as a result of their poor performance and not sticking to the local laws that prevent some kind people from gambling. I don't know what will be fate of the guy but I know that predict platforms including casinos can be find guilty of not controlling how often the behavior of their players have become when betting on their websites.

It is the duty of prediction platform like polymarket to restrict any player that is gambling too quickly with huge amounts of money within a short period of time and asking for KYC can help to know the public status of the player.

[Fiatless]

Polymarket has now been sued by the guy who lost $500k to that May 31st market prediction of Microstrategy's BTC sell-off
The full copy of the lawsuit has been posted on X here: https://x.com/BurwickLaw/status/2074200534102237288 ^source
The lawsuit was filed in the Supreme Court of the State of New York just a few days ago, on July 03, 2026.

This platform also has a lawsuit filed by the National Association of Consumer Advocates, and this was in June, 2026.  
Details about it can be found here: https://cryptobriefing.com/polymarket-sued-targeting-college-students/

What do you think? Does that dude from X have a chance of getting that $500k?

This is a summary of what happened

The disputed market asked whether Strategy would sell any Bitcoin by May 31. The Michael Saylor-led firm did exactly that, disclosing in a June 1 SEC filing that it sold 32 BTC between May 26 and 31, its first such sale since 2022. However, because the disclosure landed a day after the deadline, Polymarket added a note that "confirmation achieved outside of the market's timeframe does not qualify," and the contract resolved "No" after a vote by holders of UMA, the oracle Polymarket uses to settle disputes.

The plaintiff has a high chance of winning the case if he gets a good legal team. Polymarket changed the rules after the trade was already active. Strategy confirmed that they sold Bitcoin within the period of the trade. The disclosure on 1st of June was just a confirmation that they had sold within that period.

[noorman0]

For those who don't know, Polymarket has enabled a Bitcoin LN deposit method. This opens up the opportunity for new users, especially Lightning Network enthusiasts, to try it on a small scale, subject to a minimum contract purchase requirement of just $1 or for regular users who want a faster balance crediting process. Source

[NotATether]

Polymarket bears some blame here, since they initially set ambiguous terms for this prediction market.

Ambiguous, eh? Tell me about it!

This morning I was double rug-pulled in the "Ronaldo crying in the World Cup" market. Bought yes, CR7 did cry but these crazy traders swinged the price towards No and heavily damaged my position, now I was of the belief that the UMA oracles were surely going to rig the market in favor of No despite literally every news saying he did cry but they were specifically looking for tears, and there was one tear but they apparently didn't care about that when they tried to resolve it to No.

So my smarty pants sold my Yes and bought No with my remaining shares + my extra cash on the account and this morning I woke up to see the UMA rigged it to Yes at 99%. lol

I guess I won't be trading for a few weeks, even though I can simply make the money back in a week here by signature campaigns etc

[Wind_FURY]

For those who don't know, Polymarket has enabled a Bitcoin LN deposit method. This opens up the opportunity for new users, especially Lightning Network enthusiasts, to try it on a small scale, subject to a minimum contract purchase requirement of just $1 or for regular users who want a faster balance crediting process. Source

Have you tried making a deposit through the Lightning Network to the service? Does it store your deposit in your account as Bitcoin, or does the service have a conversion mechanism, then holds your deposit in fiat or a stablecoin?

BUT that's absolutely good news. That expands Bitcoin's utility as a form of MONEY that can be used in the internet.

[noorman0]

Have you tried making a deposit through the Lightning Network to the service? Does it store your deposit in your account as Bitcoin, or does the service have a conversion mechanism, then holds your deposit in fiat or a stablecoin?

BUT that's absolutely good news. That expands Bitcoin's utility as a form of MONEY that can be used in the internet.

I've never even tried Polymarket, to be honest. But what I've long understood is that they have their own stable token used for all platform activities. So, any deposit method should be automatically converted to a stable value after being credited.

[Hispo]

For those who don't know, Polymarket has enabled a Bitcoin LN deposit method. This opens up the opportunity for new users, especially Lightning Network enthusiasts, to try it on a small scale, subject to a minimum contract purchase requirement of just $1 or for regular users who want a faster balance crediting process. Source

I heard about it.
It will definitely get more people coming to their markets, as LN is not the niche which it used to be back in the day. As Bitcoin continue to increase in value and become more scarce through time, in the future people will have to bet with Satoshis.
There is already an important percentage of us (Bitcoin users) who like to use LN in a complementary way.

I wonder if this is a plan for Polymarket to accumulate BTC during this bear market, in order to cash out when the bulls get loose in the future.

It seems companies continue to get inclined to accumulate BTC, regardless of the situation of the market.

[dwyane36]

I've never even tried Polymarket, to be honest. But what I've long understood is that they have their own stable token used for all platform activities. So, any deposit method should be automatically converted to a stable value after being credited.

Well, you're missing out on a lot if you haven't tried your luck on a prediction market platform like Polymarket yet.
As for converting your deposit, yes, Polymarket uses the pUSD token on the Polygon network for this purpose. In fact, it's the collateral token used for all trading on its platform.

[ryzaadit]

I heard about it.
It will definitely get more people coming to their markets, as LN is not the niche which it used to be back in the day.

To be honest is not gonna to boost any user more.

People are more often to transaction with common network, and majority user are using Exchange for Trasaction even they're using their own wallet thet will choose the network are majority accepted for every service or exchange are accepted.

LN are a network are mostly being used for people are more aware about Bitcoin. While common user will always use common network.

[Hispo]

I heard about it.
It will definitely get more people coming to their markets, as LN is not the niche which it used to be back in the day.

To be honest is not gonna to boost any user more.

People are more often to transaction with common network, and majority user are using Exchange for Trasaction even they're using their own wallet thet will choose the network are majority accepted for every service or exchange are accepted.

LN are a network are mostly being used for people are more aware about Bitcoin. While common user will always use common network.

With common network, I assume you are talking about the use of USDC within the matic Blockchain, by Polymarket.
In some sense, yes, you are mostly right: we won't see a drastic surge of users because of the use of Bitcoin lightning in order to deposit and participate on Polymarket, but I still believe there will be users who will join in because of this new feature.
We should never underestimate the size of the Bitcoin ecosystem and the market capitalization behind it.

There are people who avoid to swap their BTC in exchange for USDC because they don't want to change their positions in the market, after all, also because of taxation. This helps that kind of public of potential bettors.

[NotATether]

Well, you're missing out on a lot if you haven't tried your luck on a prediction market platform like Polymarket yet.

Oh man, don't sink him bro! 

With common network, I assume you are talking about the use of USDC within the matic Blockchain, by Polymarket.
In some sense, yes, you are mostly right: we won't see a drastic surge of users because of the use of Bitcoin lightning in order to deposit and participate on Polymarket, but I still believe there will be users who will join in because of this new feature.
We should never underestimate the size of the Bitcoin ecosystem and the market capitalization behind it.

I think that LN usage is close to an all-time low for some reason. I have no idea why. Nobody is even performing the LN node running steps I have on a thread to get free merits these days. Maybe it will get better when the bear goes back to hibernation in a few years.

[Haunebu]

Polymarket has now been sued by the guy who lost $500k to that May 31st market prediction of Microstrategy's BTC sell-off
The full copy of the lawsuit has been posted on X here: https://x.com/BurwickLaw/status/2074200534102237288 ^source
The lawsuit was filed in the Supreme Court of the State of New York just a few days ago, on July 03, 2026.

This platform also has a lawsuit filed by the National Association of Consumer Advocates, and this was in June, 2026. 
Details about it can be found here: https://cryptobriefing.com/polymarket-sued-targeting-college-students/

What do you think? Does that dude from X have a chance of getting that $500k?

Not the full amount in my opinion. I believe his name is William Wood and other guy's name is Thomas who will most probably settle privately with the platform rather than drag it out since Polymarket is trying hard to expand in the US currently.

It's pretty much common sense these days that prediction markets are a big gamble thanks to the actual verdicts not equalling UMA's verdicts now and then.

[dwyane36]

With common network, I assume you are talking about the use of USDC within the matic Blockchain, by Polymarket.
In some sense, yes, you are mostly right: we won't see a drastic surge of users because of the use of Bitcoin lightning in order to deposit and participate on Polymarket, but I still believe there will be users who will join in because of this new feature.
We should never underestimate the size of the Bitcoin ecosystem and the market capitalization behind it.

I think that LN usage is close to an all-time low for some reason. I have no idea why. Nobody is even performing the LN node running steps I have on a thread to get free merits these days. Maybe it will get better when the bear goes back to hibernation in a few years.

What are the criteria you use to determine that LN usage is low? Although the number of channels has decreased in recent years, judging by the statistics, the capacity and the total number of nodes have increased.
As for using LN as a deposit method on Polymarket, having a variety of deposit methods is always a good thing, even if not many people are particularly interested in using LN specifically.

[ryzaadit]

What are the criteria you use to determine that LN usage is low? Although the number of channels has decreased in recent years, judging by the statistics, the capacity and the total number of nodes have increased.
As for using LN as a deposit method on Polymarket, having a variety of deposit methods is always a good thing, even if not many people are particularly interested in using LN specifically.

Even without number from the node running it self.

We all know people who are using LN for a service was low, very low. Majority people who are aware about LN is a Bitcoin Geeks, they are the people or user are more knowledge about Bitcoin, etc. However, majority of user on every service are common people who are mostly just have a basic info or knowledge. They transaction using mostly:
- Exchange
- Personal wallet

These two TX coming from arw mostly using a common network.

[Wind_FURY]

Have you tried making a deposit through the Lightning Network to the service? Does it store your deposit in your account as Bitcoin, or does the service have a conversion mechanism, then holds your deposit in fiat or a stablecoin?

BUT that's absolutely good news. That expands Bitcoin's utility as a form of MONEY that can be used in the internet.

I've never even tried Polymarket, to be honest. But what I've long understood is that they have their own stable token used for all platform activities. So, any deposit method should be automatically converted to a stable value after being credited.

In that instance, then it's probably best to use the Bitcoin as a medium for sending value through the network, than using it as a savings account or a hedge against the legacy financial system.

If you deposit your Bitcoin, and the price surges, you'll be holding their stablecoin which will give you less Bitcoin when you withdraw through the Lightning Network.

[AmoreJaz]

What are the criteria you use to determine that LN usage is low? Although the number of channels has decreased in recent years, judging by the statistics, the capacity and the total number of nodes have increased.
As for using LN as a deposit method on Polymarket, having a variety of deposit methods is always a good thing, even if not many people are particularly interested in using LN specifically.

Even without number from the node running it self.

We all know people who are using LN for a service was low, very low. Majority people who are aware about LN is a Bitcoin Geeks, they are the people or user are more knowledge about Bitcoin, etc. However, majority of user on every service are common people who are mostly just have a basic info or knowledge. They transaction using mostly:
- Exchange
- Personal wallet

These two TX coming from arw mostly using a common network.

I believe the low usage of LN is because most third party trading platforms have no LN in their exchange. Hence, traders are not encourage to use this network. Because if popular exchanges will integrate an option via LN, I would say, people will use this route because it is quite cheaper. But up until now, very few use it because it is not that popular in trading platforms maybe owed to cheaper fees involved. And so only btc holders with their own wallet will try to use the LN path.
So for me, the popularity of usage depends also on the platforms that are utilizing this network. It means, that up until now, LN is not the choice of most btc-related businesses.