Zelensky’s NATO Attire Sparks $160M Controversy on Polymarket.

Polymarket Faces Heat Over $160M Bet on Zelensky’s NATO Outfit, Stirring UMA Governance Debate

Crypto prediction platform Polymarket is facing significant backlash this week amid a dispute over a high-stakes market speculating on whether Ukrainian President Volodymyr Zelenskyy wore a suit before July.

More than $160 million in crypto has been wagered on this question. Initially, the market leaned toward a “yes” outcome, but that result has now been contested by UMA, the oracle protocol responsible for verifying events and settling Polymarket markets.

As the dispute drags on, the price of the “yes” bet has plunged from $0.19 to just $0.04, reflecting a mere 4% chance of winning. Advocates for the “yes” side argue that Zelenskyy indeed wore a suit during the NATO summit on June 24 and suggest there may be foul play from UMA validators attempting to sway the final decision.

UMA’s system relies on token holders who vote on the accuracy of real-world data. Critics warn that a coordinated group of token holders could manipulate outcomes to serve their interests, raising concerns about the fairness of decentralized governance.

This isn’t the first clash between the Polymarket and UMA communities. In March, another market tied to Ukraine sparked similar accusations of manipulation by significant UMA stakeholders.

“We all know the whales are trying to rig the UMA vote on the Zelensky suit market,” wrote X user Atlantislq. “But that doesn’t mean we should stay silent. This is a critical moment—Polymarket claims to care about truth and decentralization, so let’s hold them to it.”

Even AI chatbot Grok weighed in, siding with the “yes” camp and declaring, “Zelenskyy wore a suit in June 2025.”

Meanwhile, menswear influencer and writer known as “derek guy” has staked $3.6 million on the market resolving as “no,” positioning himself for a potential $72,000 profit if the market swings in his favor.

A final decision on the market’s outcome is scheduled for midnight UTC on July 8.