Polymarket removes contract allowing users to wager on fate of Cornell students accused of rape

Prediction market platform Polymarket has removed a contract that allowed users to wager on whether any of seven men accused of raping a Cornell University student in 2024 would be charged with a felony sex crime. The market, which launched on September 30 and was scheduled to close January 31, had generated more than $450,000 in trading volume before it was taken down from the company’s international platform.

A Polymarket spokesperson said the market addressed whether the government would take action in a case of serious concern, but the company decided to remove it after hearing public feedback. “Our primary goal at Polymarket is to bring objective, data-driven insight to the most important questions of our time,” the spokesperson said. “This market addressed whether the government would take action — a process that deserves scrutiny, particularly in a case of such serious concern. That said, we believe in the wisdom of crowds, have heard them loud and clear, and removed the market.”

The contract drew criticism online for being degrading to the alleged victim, identified in court documents as Jane Doe. She filed a lawsuit last month accusing seven fraternity members of sexual assault or exploitation in October 2024 and alleging Cornell mishandled her complaints. All seven men have denied the allegations.

An online petition called on celebrity endorsers to cut ties with the company. Polymarket has promotional deals with figures including NBA star LeBron James, former athletes Derek Jeter and Eli Manning, former WNBA player Sue Bird, director Spike Lee, and actors Craig Robinson, John Leguizamo and Alexandra Daddario. The company also has partnerships with the NHL, MLB, MLS, UFC and ATP Tour. Representatives for the celebrities and leagues did not immediately respond to requests for comment.

Polymarket’s U.S. exchange is regulated by the Commodity Futures Trading Commission, which prohibits trading on activity that is unlawful under federal or state law. The platform has faced scrutiny previously, including reports of suspicious trading activity around a U.S.-Iran ceasefire announcement and an Army sergeant indicted for betting on the capture of Venezuelan President Nicolás Maduro.

Sources: Las Vegas Review-Journal