Post #3332133
2026-06-16 10:49 UTC
Person bets big on polymarket to profit from the continuation of the Iran war, gets screwed out of his blood money by site-wide oracle scam, complains on reddit.
Oracle as in a confirmation of facts protocol (used to be a thing with smart contracts), which in polymarket apparently amounts to token holders in an external DAO called UMA voting in proportion to their holdings to resolve disputes, and currently like 9 people hold over half the voting power, so yeah.
The future of finance and the future of information aggregation keep overlapping in the funniest ways.
Replies (2)
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@Soyweiser@awful.systems 2026-06-16 12:39
Oracle as in a confirmation of facts protocol Amazing that on first glance it looks like a smart contract ‘all done by code’ thing, but then the reveals comes and it is just a few rich people again.
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@V0ldek@awful.systems 2026-06-17 06:31
which in polymarket apparently amounts to token holders in an external DAO called UMA voting in proportion to their holdings to resolve disputes, Wait that’s even fucking dumber than I thought it was, good grief