9 Whale Wallets Dominated Polymarket Dispute Voting Over Past 3 Years, Controlling ~50% UMA Power

According to Bloomberg, over the past three years, just 9 large UMA token holders have controlled approximately half of the voting power in Polymarket disputes, despite over 6,400 addresses participating in the process. These whales consistently voted on the winning side in nearly all controversial rulings.

In April 2026 alone, about 230 contracts with over $1 billion in total trading volume entered dispute resolution—less than 1% of Polymarket's total contracts but with dispute frequency rising alongside trade scale. Traders have criticized the mechanism for effectively granting anonymous whales with economic incentives the power to determine "truth," while Polymarket and Risk Labs had previously promised to improve the process, plans now shelved.