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Market Chatter: Polymarket Faces $345 Million Dispute Over US-Iran Peace Deal Contracts

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Polymarket, the prediction market platform, is grappling with a dispute over more than $345 million in bets tied to a US-Iran peace deal after the two countries announced an interim agreement over the weekend, Bloomberg reported Monday.

Traders are split on whether the announcement meets the contract terms, which require a deal explicitly stating that military hostilities have "permanently ceased," the report said.

The two countries announced a 60-day interim agreement Monday to reopen the Strait of Hormuz, with a memorandum of understanding expected to be signed in Switzerland on Friday, according to the report.

Resolution of the disputed contracts will be decided by holders of UMA, the cryptocurrency used to handle market challenges on Polymarket, with a vote expected later this week, Bloomberg said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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