$160 Million Controversy Hits Polymarket Over Zelensky Wearing a Suit at NATO Summit.

Polymarket Under Scrutiny Over $160M Dispute About Zelensky’s NATO Attire, Sparking UMA Governance Concerns

Polymarket, the crypto prediction platform, is facing renewed criticism this week over a controversial market centered on whether Ukrainian President Volodymyr Zelenskyy wore a suit before July.

More than $160 million in cryptocurrency was wagered on the question, which initially leaned toward a “yes” result. However, the outcome has come under challenge from validators on UMA, the oracle protocol responsible for verifying real-world events and resolving Polymarket markets.

As the dispute unfolded, the price for the “yes” side crashed from $0.19 to just $0.04, suggesting only a 4% chance of winning. Supporters of the “yes” position argue Zelenskyy indeed wore a suit during the NATO summit on June 24, and they accuse UMA validators of potentially influencing the decision for personal benefit.

UMA’s governance relies on token holders who vote on verifying real-world data. Critics warn that a coordinated group of large token holders could manipulate outcomes, undermining trust in decentralized prediction markets.

This controversy isn’t new: a similar dispute emerged in March around another Ukraine-related Polymarket question, fueling tensions between Polymarket users and UMA’s governance community.

“We all know the whales are trying to rig the UMA vote on the Zelensky suit market,” posted 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.”

Adding to the drama, AI chatbot Grok weighed in on the side of “yes,” stating that “Zelenskyy wore a suit in June 2025.”

Meanwhile, menswear influencer and writer known as “derek guy” has placed a $3.6 million bet on the market resolving as “no,” which could net him a profit of $72,000 if correct.

A final ruling on the market’s outcome is expected at midnight UTC on July 8.