Polymarket Dispute Resolution Dominated by Whale Minority, with 9 Addresses Holding ~50% of UMA Voting Power

May 26: Rulings on contentious Polymarket contracts are being dominated by a small minority of UMA token holders. New data shows that over the past three years, only 9 whale addresses—out of more than 6,400 addresses that took part in Polymarket’s dispute resolution process—control roughly half of the total UMA voting power, and have backed the winning side in nearly all disputes. In April 2026, around 230 Polymarket contracts with a combined trading volume exceeding $1 billion entered the dispute resolution framework, making up less than 1% of all Polymarket contracts. Notably, dispute frequency rises along with transaction size. The mechanism has drawn criticism from some traders, who argue it grants anonymous whales de facto veto power driven by economic incentives. Meanwhile, Polymarket and Risk Labs—the entity responsible for UMA—have shelved plans to improve the relevant processes.