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What is a suit? This seemingly simple question is at the center of a $53 million dispute on the popular cryptocurrency betting platform Polymarket.
Specifically, cryptocurrency bettors are split on whether Ukrainian President Volodymyr Zelensky‘s recent NATO summit attire was a suit.
Zelensky’s wardrobe decisions have become a hot-button topic since his ill-fated meeting with President Donald Trump at the White House in February. At that meeting, Zelensky’s signature military-esque sweatshirt, donned as an act of solidarity with Ukrainian troops fighting Russia’s invasion, attracted snide comments from Trump. “You’re all dressed up today,” Trump said, referring to Zelensky as he stepped out of his car.
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In recent months, this incident has inspired multiple betting markets on whether Zelensky will wear a suit on Polymarket. The most recent market, “Will Zelensky wear a suit before July?” was supposed to resolve on Tuesday, but is still open on Thursday amid disputes over whether what he wore at the NATO summit at The Hague on June 24 was a suit.
At the summit, Zelensky ditched his signature military-style sweatshirt for a black military-style black jacket, black shirt, and black pants, an outfit widely reported by several media outlets and an official Polymarket X account as a suit.
While this reporting consensus should have typically led to the resolution of the market in favor of bets that Zelensky would wear a suit, the market is in dispute.
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For one, some have taken issue with the unorthodox style of Zelensky’s outfit.
“I dno [dunno] what kind of suit you wear but what the Z man worse [wore] is NOT a suit!” a user under the name “Grinch” said on Polymarket’s Discord.
At the same time, others have pointed out that Zelensky wore a similar outfit in May, but the market resolved “No,” suggesting it was not a suit.
On the other hand, some have argued that individual opinions on whether or not it was a suit should not matter, citing the mass media coverage and the condition for resolution of the market.
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