DeFi-based prediction platform Polymarket has backtracked on a decision regarding Donald Trump.
A news that made a big impact in the cryptocurrency market last week claimed that the Solana-based meme coin called DJT was supported by Donald Trump. However, this claim was quickly denied and the discussions ended. Polymarket concluded its bet on the issue by saying "No, DJT is not supported by Trump."
According to Polymarket's data, users had placed over $1 million on this bet.
However, Polymarket later clarified that the "no" flag made by the oracle service UMA was incorrect. The company recently announced that they are working on a solution to this issue.
While Polymarket's step back did not have a positive impact on the DJT price, meme coin lost 10% of its value in the last 24 hours.
The issue of whether Donald Trump supports this meme coin has been addressed by many cryptocurrency analysts. According to leading blockchain researcher ZachXBT, this project was created by Martin "Pharma Bro" Shkreli, who received a prison sentence. Blockchain analysis platform Arkham awarded $150,000 to ZachXBT, which revealed that the DJT token was created by Shkreli.
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