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Business & Economics
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Polymarket community users saw approximately $7 million wiped out from the event market after a large UMA holder allegedly manipulated the Oracle by using last-minute voting power.
Polymarket team has denied the allegations of a “market failure” but have resolved to put in place a more defined and timely clarification system with the UMA team.
Market participants and analysts will be closely watching the coming up and implementation of these new measures.
The outcome could set new standards for decentralized finance platforms dealing with real-world events.
The effectiveness of these reforms may determine whether decentralized prediction markets can balance transparency with security, ensuring they remain a viable and trustworthy alternative to traditional financial systems.
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