Two Polymarket users sued the prediction-market platform, its holding entities and CEO Shayne Coplan in New York state court, alleging the site wrongly resolved a market on whether Strategy would sell Bitcoin.

William Wood and Thomas Bush filed the complaint in the Supreme Court of the State of New York, County of New York, on July 3, under index number 158389/2026, according to the filing law firm Burwick Law posted on its X account.

The plaintiffs held “Yes” shares in a market asking whether Strategy Inc. (formerly MicroStrategy) would sell any bitcoin by May 31, 2026. The complaint states Strategy’s own Form 8-K filed with the SEC, the market’s designated resolution source, disclosed a sale of 32 BTC during the relevant period. Polymarket nonetheless resolved the market “No,” which the suit says followed the platform posting after-the-fact “clarifying” language that shifted the question from whether Strategy sold bitcoin by May 31 to whether the sale was publicly confirmed by that date.

The complaint names Adventure One QSS, Inc. and Blockratize, Inc., the entities doing business as Polymarket, alongside Coplan, Blockratize’s founder and CEO, and Matthew Modabber, Polymarket’s chief marketing officer since January 2024, according to the filing.

Claims Asserted

Plaintiffs allege breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment in the alternative, and deceptive and false-advertising practices under New York General Business Law sections 349 and 350, the complaint shows.

They seek damages to be determined at trial, including the denied $1-per-share redemption value of their winning shares, restitution, statutory and treble damages, an injunction, interest and fees, per the filing.

The suit follows a dispute The Defiant previously covered in June, when the same market’s resolution through UMA’s token-voting oracle drew scrutiny over the outcome. Polymarket had not issued a public response to the lawsuit as of publication.