Lexie

[Domer❤️‍🔥 @Domahhhh]

If you're interested in betting on anything as a serious endeavor, a few recommended reads:

-Thinking, Fast and Slow
-Intelligent Investor Ch 8
-Fortune's Formula
-Cracking the Code - https://t.co/wXlOLUv2cG
-Deep Value
-Big Short/Moneyball
-When Genius Failed
-Superforecasting

[Variance Lover @variance_lover]

Open letter to @Polymarket and especially @shayne_coplan:

I've been trading on Polymarket for a long time. I am one of the biggest traders on the entire platform and I interact with it on a daily basis.

And at this point I'm seriously questioning whether the team has simply given up.

I'm not even trying to be dramatic. Wtf is actually going on?

Has everyone made enough money that nobody cares anymore? Is the team completely overwhelmed? Are priorities completely broken? Is there no leadership? Is it incompetence?
Because the current state of the platform is honestly embarrassing.

Every maintenance seems to follow the exact same script:

announce 10 minutes of downtime
start 20 minutes late
stay down for an hour
deploy changes that break multiple existing systems
leave the bugs in production for weeks

And somehow nobody seems concerned.

Example:

~1.5 weeks ago an update broke tick sizes. The matching engine started rejecting orders that matched the correct tick size after a tick size change was published.

This was immediately visible after deployment.

It's still broken.

Nobody seems to care.

Then for the last two days Polymarket's own RTDS feed, the feed used for all crypto markets, has been broken.

The issue was marked "resolved" 10 hours ago.

It still isn't resolved!

Did anyone spend literally 5 seconds checking whether data was actually being published before closing the incident?

Because it sure doesn't feel like it.

Communication is somehow even worse than the bugs.

Half the changes never get announced.

The other half are hidden in random Discord side conversations.

Major trading-impacting changes get silently rolled out with zero documentation.

You ask support.

They say they'll ask the team.

Then you never hear back.

Or you get the same canned response you've already received three times.

The team keeps saying communication will improve.

It never does.

Then there's the rebate and fee situation.

Taker tiers were supposed to launch on May 28.

A week later they still weren't live.

Nobody acknowledged the delay.

The docs still said May 28.

To this day there still hasn't been a single taker rebate payment.

And the official position is apparently that missed rebates won't be back-paid.

How is that acceptable?

How are traders supposed to adjust strategies, thresholds, and risk when nobody knows what fees they are actually paying, what rebates they are actually earning, or how much of the promised rewards the platform simply decides not to distribute?

That isn't transparency and it is clearly destroying trust.

The craziest part is that every update creates fresh opportunities for exploiters.

Just in the last couple weeks we've had:

queue position jump exploits
taker delay bypass exploits
ghost fill exploits
various matching and infrastructure bugs
order spam exploits

Millions of dollars have been extracted from legitimate users through platform failures.

The response?

Increase rate limits.

Seriously.

A huge amount of latency issues today are caused by order spam that is directly incentivized by broken infrastructure and exploitable mechanics.

Fixing the root causes would help.

Instead we get band-aids.

Which raises another question:

Does Polymarket have a testing environment?

Does it have staging?

Can updates be rolled back?

Because from the outside it honestly looks like production is the testing environment.

Every maintenance introduces new failures.

Every maintenance gets partially reverted.

Every maintenance creates more issues than it solves.

This shouldn't be happening at a company valued in the billions.

Meanwhile manipulation that has been repeatedly reported for months continues largely unchecked while manipulators keep extracting money from normal users.

And surprise:

Volume is declining.

Prediction markets as a whole are growing.

Yet Polymarket just posted its second consecutive month of declining volume.

Meanwhile Kalshi has become the clear market leader in many categories and is now outperforming Polymarket by large multiples in areas where Polymarket used to dominate.

Honestly?

It's not hard to see why.

Every serious trader I've spoken to says the same thing:

Kalshi feels stable.

Polymarket feels like you're one deployment away from disaster.

I know multiple people who would happily trade Polymarket full-time if they trusted the platform.

They don't.

Not because of competition.

Because they don't trust Polymarket itself.

My trust in this platform is at an all-time low.

And I genuinely don't understand what is happening internally.

Maybe the response will be that the team is busy with the World Cup or other initiatives.

Fine.

Then stop shipping half-finished features.

Stop deploying untested fixes.

Stop breaking live trading.

Slow down.

Focus on fewer things.

Do them properly.

The most concerning part is that so many decisions feel like they were made by people with no actual trading experience.

The product decisions show it.

The infrastructure decisions show it.

The market structure decisions show it.

Building the future of prediction markets requires understanding how markets actually function.

Right now it often feels like nobody is steering the ship.

I want Polymarket to succeed.

But from the perspective of someone who uses the platform every day, this is bordering on unusable.

@Polymarket
@shayne_coplan

What is going on?

[Variance Lover @variance_lover]

https://t.co/t7Y2NLift6

[Lexie @MindlessLexie]

@runes_leo “之前积累的返佣拿不回”——发放了的佣金还能收回？那还是去中心化平台吗？

[Lexie @MindlessLexie]

@devjoshstevens Ghost fills happening again

[Suhail Kakar @SuhailKakar]

introducing polymarket cli - the fastest way for ai agents to access prediction markets

built with rust. your agent can query markets, place trades, and pull data - all from the terminal

fast, lightweight, no overhead

[Lexie @MindlessLexie]

@devjoshstevens @CarOnPolymarket great great great appreciation

[Lexie @MindlessLexie]

@cryptoyoda66 hilarious 🤣

[Lexie @MindlessLexie]

@dontoverfit Great to know you are leo from discord😊

[Lexie @MindlessLexie]

So well said.

[Variance Lover @variance_lover]

I’ve been one of the biggest market makers on Polymarket for a long time. At peak I was doing $10M+ daily volume and paying thousands in fees every single day.

The current state is the worst the platform has ever felt.

Ghost fills still everywhere. Markets constantly breaking. Payouts randomly missing. Exploits going on for months while the team says “it’s fixed”. You spend more time defending against bugs than actually trading.

Meanwhile, communication is a joke.

They say “we’re listening” → ignore emails, ignore DMs.
They say “we’ll work with top users” → instead it’s random private Telegram groups with whoever shouts the loudest.
They say “issue fixed” → it clearly isn’t.

At some point you stop believing anything they say.

The fee situation is another one. If you’re generating serious volume and paying serious fees (thousands a day), most exchanges shower you with attention and perks. I'm not asking for that but would be nice to at least be acknowledged that you exist and have basic communication, especially after they've announced publicly multiple times that they will start doing this.

Instead we got a week-long hype campaign for a “big update” that turned out to be… a hidden fee increase.

How dumb do you think your users are?

And then stuff like April 5th, missed referral/rebate payments, no announcement, no explanation, nothing. Just silence. That’s not a bug, that’s trust damage.

The bigger issue is it feels like nobody on the team has actual trading experience. The design decisions show it. Every update introduces new edge cases, new exploits, new ways to break the order book.

People have made many millions exploiting this stuff. Many of these accounts are obvious, trackable, preventable. The community has been pointing it out for months.

Ignored.

Only now that the markets are borderline unusable does it seem like there’s urgency. Right now the platform is honestly close to untradeable:
– ghost fills
– manipulation
– unreliable payouts
– constant bugs
– zero transparency

And surprise, volume is dropping.

Meanwhile Kalshi is catching up fast (have basically overtaken in volume in almost every category except for politics) and Hyperliquid is entering with a team that actually understands trading systems.

I want Polymarket to succeed.

And yes, maybe the upcoming ghost fill fix helps. But if this pattern continues, terrible communication, fake timelines, ignoring core users, then this won’t be a place serious traders stick around.

You can’t build a market while eroding the trust of the people who provide the liquidity, especially not as a many multi billion dollar company! I have spoken to many large polymarket whales (of which a considerable amount have already given up on the platform) and they all share this sentiment.

@Polymarket @mustafap0ly @SuhailKakar @_kanarazu_

[Lexie @MindlessLexie]

The block data says it all: your latest (May 1st) crypto trading volume has dropped to a three-month low.

[Josh @devjoshstevens]

we seeing mostly all the attacking in 5 minute markets at a failing rate of 7-10% of trades - we blocking roughly 10,000 requests a minute from the attackers which are really ramped it up over the passed few days.. 90% of trades still going through on that market but yeah understand its really not ideal to see those failed tx and fully understand why you would be angry

[Lexie @MindlessLexie]

polymarket 技术菜得令人发指，感觉现在全占80%的交易来自撤单攻击者。希望看到 hype 把 polymarket 按地上摩擦。

[KK.aWSB @KKaWSB]

一位男子养了一只灰兔，它从未见过同类，非常孤独，心里很沉重。一天，主人救助了一只害羞的白兔，把它带回了家。从那一刻起，灰兔顿时开心起来，温柔地拥抱和照顾着它的新朋友。

[Luckylab_Vicky @Vicky22955256]

韩国某水族馆，下班了，聪明伶俐的水獭宝宝帮爷爷收拾玩具，爷爷拿出了冰块奖励给它们冰块。

[Lexie @MindlessLexie]

@runes_leo @Oliverkk789 请问订阅这个data stream 什么价格？

[Lexie @MindlessLexie]

@Mikocrypto11 整篇文章都是杜撰的。最高温区间从来都是2度，哪来的“40-45区间”

[Lexie @MindlessLexie]

@Eltonma @rulamaximus lol

[Lexie @MindlessLexie]

@hunterweb303 看乐了😆

[Lexie @MindlessLexie]

@MicropediaRJ 不敢不敢，碰巧知道罢了