Nine whales dominate Polymarket's dispute resolution system

A small group of whales holds decisive power over the outcomes of bets on the prediction market Polymarket, Bloomberg reported. Just nine wallets control half of the total voting power in the UMA oracle system, which is used to settle disputes on the platform. Out of more than 6,400 addresses that have participated in votes over the past three years, these nine have been on the winning side of nearly every dispute, effectively wielding final say. In April 2026 alone, around 230 contracts with a trading volume exceeding $1 billion were sent to dispute resolution, with all outcomes determined by this minority. The UMA dispute resolution model incentivizes voters to align with the expected majority rather than the factual truth, creating a potential conflict of interest. If these large-scale investors place significant bets on a particular outcome while also dominating the vote, they can steer the final judgment in their favor. Risk Labs, the operator of Polymarket and UMA, had previously pledged to improve its governance process, but these plans are now on indefinite hold, according to the report.