Polymarket will end the prediction market on the approval of the Ethereum ETF by May 31. The resolution was made after the Securities and Exchange Commission (SEC) approved the Spot ETH ETF's multiple 19b-4 filings, which sparked controversy as the necessary S-1 form filings required by the exchange were not yet approved. Some users believe that the ETF has not been fully approved until both filings are approved. Optimistic Oracle provider UMA Protocol ultimately determined the result as "yes" based on the approved 19b-4 filings.
Bloomberg analyst James Seyffart pointed out that historically, the approval of 19b-4 would lead to the approval of S-1. The total amount wagered in the prediction market is $13.2 million.