It means the argument is unconvincing given the actual facts.  It is a common phrase being used correctly.  Do you really not know what it means?

It's amazing how much leftist discourse is just them pretending not to understand things, thus making discourse impossible.

Millennial Woes

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Polymarket has refused to settle bets placed on the United States military action in Venezuela last weekend, even though American forces evidently went into the country, arrested the country’s preside...

Polymarket declines to settle Venezuela invasion prediction market

A claim that Polymarket traders have priced a 53% chance of Fundstrat co-founder Tom Lee facing securities fraud or Ponzi scheme charges in 2026 spread across X on January 9, 2026.
The episode has dra...

Viral Polymarket Screenshot Claims 53% Odds of Tom Lee Fraud Charges – But No Such Market Exists

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For most of crypto’s short history, growth followed...