Zelenskyy’s Suit Controversy Locks $79M on Polymarket

A controversy surrounding Ukrainian President Volodymyr Zelenskyy’s outfit has led to nearly $79 million being locked on the decentralized betting platform Polymarket. The question was whether Zelenskyy would wear a suit between May 22 and June 30, 2024. On June 24, he appeared at a NATO meeting in the Netherlands wearing a dark jacket and matching pants, along with sneakers.

Some users argued that the outfit qualified as a suit, while others disagreed. Polymarket initially ruled in favor of the “yes” outcome, but the result has been contested twice. As a result, funds remain locked.

Bets on Polymarket are made using the USDC stablecoin and operate on the Polygon network, a blockchain solution known for low fees and fast transactions. The platform enables users to trade opinions on real-world events, ranging from politics to sports and culture.