Overview
- A Wall Street Journal review found at least 60% of active UMA voters link to Polymarket accounts, with about one in five disputes involving a voter who had money at stake.
- More than half of the voting power in most disputes sits with the 10 largest wallets, concentrating control over outcomes.
- UMA’s process uses a two-hour challenge window and $750 bonds, which can deter small users from contesting resolutions.
- Community site UMA.rocks removed a prominent member known as Scout after manipulation claims, and he acknowledged voting while holding positions in the same markets.
- Arbitrations have surged past 1,150 markets in 2026, raising barriers to institutional adoption and drawing contrasts with Kalshi’s in-house, CFTC-registered model.