Polymarket stops users from wagering on possible felony charges for Cornell students accused of rape
Summary
Polymarket removed a betting contract that let people wager on whether seven men accused of raping a Cornell student would face felony charges. The company took down the market after public criticism and because U.S. rules prohibit trading on illegal activities.Key Facts
- Polymarket offered a contract to bet on felony charges against seven men accused of rape at Cornell University in 2024.
- The market opened on Sept. 30 and closed early after reaching over $450,000 in betting volume.
- U.S. rules ban trading on events related to illegal actions, which affected Polymarket as its U.S. platform is regulated.
- Polymarket said it removed the market after hearing public feedback, despite its goal to provide data-driven insights.
- The betting platform has celebrity endorsements including LeBron James and partnerships with major sports leagues.
- The accused men deny the allegations, saying interactions were either consensual or they were not involved.
- Critics online called the betting contract offensive and questioned celebrity involvement with Polymarket.
- Polymarket has had other controversial markets, including bets on political and military events.
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