The first “Yes” ruling on June 24th was officially challenged. The discussion centers around the lack of tie, the form of sweatshirts and attire. The background includes past betting confusion and political pressure from Trump.
Ukrainian President Voldymi Zelenki’s attire caused a frenzy with unintentionally stakes millions of dollars of code.
Polymarket’s simple predictions about whether Zelenskyy will appear in suits by the end of June have evolved into a $79 million conundrum than what it counts as a suit.
The bet, originally intended as a light market, escalated to controversial debate entangled with interpretations of the rules, public appearances, and even political optics.
Poly Director’s domination was contested for images from a NATO visit to go viral
The current round of chaos began on June 24th, when Zelensky attended a NATO gathering in the Netherlands.
He was photographed in a dark jacket, shirt, matching pants and a sweatshirt.
Images circulated rapidly, and many of the polymates of the decentralized betting platform interpreted costumes as suits.
Polymarket opened the market on May 22nd, raising the question, “Will Zelenskyy wear suits by July?”
In the original terminology specified, the outfit had to qualify as a suit with a “general acceptance” sensation.
Following the appearance, the platform initially dominated “yes” and triggered partial payments.
However, the decision was soon contested by some traders who argued that the Zelenskyy’s appearance did not adequately distinguish between formal shoes, ties, or formal wear and casual outfits.
This shows the second such dispute at Polymarket, which includes Zelenskyy’s clothing.
A similar market was also closed amidst the controversy in May after Zelensky wore matching jackets and pants without a tie, with some claiming that the outfit technically meeting the suit standards.
Fashion writer Derek Guy weighed at the time, suggesting that items were cut from the same fabric, meeting the definition of suits despite the lack of traditional styling.
Historical context, symbolism of war, political tensions
The importance of Zelenskyy’s wardrobe choice has been extended beyond betting mechanisms.
Since Russia’s invasion of Ukraine in 2022, Zelensky has consistently wore military-style clothing to represent solidarity with Ukrainian soldiers.
He publicly states that he will return to wearing suits only when the war ends.
However, his dress issues were politically accused of early 2025 after a famous meeting with President Donald Trump in his office of the Oval.
At a pointy moment, Trump criticized Zelensky not only for his position in the war, but for his refusal to appear in formal attire during the meeting.
The comment led to international headlines, further politicizing Zelenki’s clothing decision.
As the appeal process continued, results were delayed
Currently, Polymarket is suspending the final settlement associated with the Zelenskyy suit market.
Two formal challenges have been raised against the ruling that deemed his June 24 outfit a suit.
These appeals lock the funds in and prevent traders from accessing prizes and losses until they reach a final resolution.
Polymarket operates using smart contracts and third-party arbitration to resolve disputes, and final decisions are made based on evidence submitted, including photographs and interpretations of the platform’s rules.
Until then, the range remains in the tens of millions of dollars.
Despite the light appearance of the market, the legal and economic implications are very realistic.
Zelenskyy’s costume discussion totaled around $79 million, making it one of the most valuable forecast markets ever operated at Polymet.
Whether Zelenskyy’s NATO appearance qualifies as a suit now depends on the interpretation of the arbitration panel.
