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Poison is Seismitoad's "third type." It gets Poison Touch and a number of Poison moves to represent this. Pokemon with "three types" are a little uncommon but can be found if you look at details. Flygon is the typical example of this. It's Ground/Dragon, but it's in the Bug egg group and gets a number of Bug moves. You could even say it has a "fourth type" in Flying thanks to Levitate and a good number of Flying-type moves.
Why didn't they make Seismitoad Poison type? Does it even matter? If they made him Ground/Poison you'd be complaining about Swift Swim and Water Absorb. Pokemon can't have 3+ types, so Gamefreak has to play around it.
And fucking hell, this is not even a problem with Seismitoad, it's an asset. You wanna know Seismitoad's problem? It has a higher physical attack yet learns 0 physical Water moves. Half it's Pokedex entries talk about it powering up its punches with vibrations but it doesn't learn Power-Up Punch naturally or through breeding.