The prediction market on the Polymarket platform reached an incorrect resolution due to oracle manipulation. This was reported by journalist Colin Wu, citing a statement from the team on Discord.

A governance attack occurred on Polymarket, where a UMA tycoon used his voting power to manipulate the oracle, allowing the market to settle false results and successfully profit. The tycoon cast 5 million tokens through three accounts, accounting for 25% of the total votes.… pic.twitter.com/3xFuzdRfWJ
— Wu Blockchain (@WuBlockchain) March 26, 2025

The issue involves approximately $7 million in bets on the outcome of ongoing negotiations between Ukraine and the U.S. regarding a rare-earth metals deal.

It is reported that a UMA whale contributed 5 million tokens via three accounts in the oracle-side voting, leading to an erroneous and premature resolution. This large participant accounted for 25% of all votes.

According to a Polymarket commentator, other prediction markets have faced similar issues, allegedly due to manipulations involving UMA.

Users expressed outrage over the ability of whales to influence oracle data and prediction market outcomes.

“UMA has to go, or this site will die. With the precedent this situation sets, anything could be resolved at the whim of whales,” one commentator noted.

The Polymarket team has pledged to take measures to prevent similar incidents in the future.

Recall that in March, an expert estimated Polymarket’s prediction accuracy at 94%.