The Mysterious Crypto Judges Who Settle Polymarket Disputes(wsj.com)
wsj.com
The Mysterious Crypto Judges Who Settle Polymarket Disputes
https://www.wsj.com/finance/polymarket-bet-disputes-fb1b8c6a
https://www.wsj.com/finance/polymarket-bet-disputes-fb1b8c6a
UMA is one transparency layer.
The bigger one is the public WebSocket feed itself, which broadcasts post-match book state but hides taker identity. So trade direction inferred from the feed only hits 59% sign agreement vs on-chain ground truth.. that breaks six standard microstructure measures (effective spread, Kyle's lambda, Amihud, etc.) on most top-100 markets.
I believe any Polymarket research that depends on direction should to source it from on-chain OrderFilled events, not the feed.