Polymarket Faces Controversy Over A Bet On Whether Zelenskyy Will Wear A Suit

A $160 million crypto prediction market on Polymarket has sparked wide criticism after a dispute over whether Ukrainian President Volodymyr Zelenskyy wore a suit at a NATO summit in June 2025.

The market, which asked users to bet on whether Zelenskyy would wear a suit before July, is now facing backlash from users and observers alike. The resolution of the market, which was handled by oracle protocol UMA, is being contested.

Polymarket Dispute Arises Over Market Outcome

The Polymarket initially leaned toward a “yes” outcome, but UMA validators decided against it. Validators on the UMA protocol use their token holdings to vote on real-world outcomes tied to prediction markets like this one.

Once the vote turned in favor of “no,” the price of the “yes” token fell sharply. It dropped from $0.19 to $0.04, suggesting a steep decrease in confidence. This change has led many users to accuse UMA validators of manipulating the vote for profit.

X user @Atlantislq posted, “We all know the whales are trying to rig the UMA vote on the Zelensky suit market. But that doesn’t mean we should stay silent.” These claims echo previous concerns, as a similar dispute occurred in March involving another market related to Ukraine.

President Volodymyr Zelenskyy Attire Sparks Debate Again

The current debate centers around Ukrainian President Volodymyr Zelenskyy appearance at the NATO summit on June 24. Supporters of the “yes” outcome argue he wore a dark, matching jacket and pants, which by tailoring standards constitutes a suit.

However, others, including menswear writer Derek Guy, claim that Zelenskyy’s outfit did not meet the full standard expected by formal suit definitions. Derek Guy reportedly placed a $3.6 million bet on “no,” which could result in a $72,000 return if the market closes in his favor.

This isn’t the first time Zelenskyy’s outfit has caused disagreements. In May, Polymarket closed a similar market where Zelenskyy’s clothing during a meeting in Germany was challenged for not being a proper suit. Although Derek Guy said it technically qualified, the market resolved against it.

Criticism Mounts Against UMA Validators

Some accuse the validators, who hold tokens of the UMA protocol, of being able to manipulate the outcomes by coordinated votes. This is causing concerns among users in terms of fairness in making decisions in blockchain-based betting platforms.

Although UMA asserts to have a community-governed dispute resolution process, critics now want greater accountability and scrutiny. Because of the presence of large token holders, or whales, some believe that biassed results may be achieved when said holders have an interest in the outcome that influences the results.

Polymarket has not released an official statement addressing the suit market controversy. However, the event could affect user trust and the platform’s image during a critical time, as it is reportedly in talks to raise $200 million in new funding.

However, Ukrainian President Volodymyr Zelenskyy has rarely worn suits since the war in Ukraine began. According to a March report by Politico, the Ukrainian leader stated he would return to wearing a suit once the war with Russia ends.