Following public backlash, Polymarket removed a contract from its prediction market platform that let users bet on whether any of the seven men accused of raping a Cornell University student in 2024 would face felony sex crime charges.
What Was the Contract About?
The market centered on allegations by a former Cornell University student, identified in court documents as Jane Doe, who claims she was drugged and gang-raped at the Chi Phi fraternity house in October 2024. In a civil lawsuit filed on September 16, Doe alleges that seven fraternity members assaulted her after providing her with alcohol, marijuana, and ketamine.
The defendants have denied the allegations, and none have faced criminal charges. Local prosecutors initially chose not to pursue charges, but the case was reopened following widespread public backlash after the lawsuit was filed. New York Governor Kathy Hochul later appointed Attorney General Letitia James to serve as special prosecutor.
Since the market launched on September 30, it had recorded more than $450,000 in trading volume before being removed from Polymarket’s international platform. The contract was supposed to run until January 31.
Polymarket’s Contract Sparks Outrage
The market sparked outrage among advocates, including attorney Cheyenne Hunt, who described it as “dehumanizing, disgusting, and dangerous” in an Instagram post. The sexual assault advocacy nonprofit I Have The Right To also denounced the market, criticizing Polymarket for turning allegations of sexual violence into a potential source of profit.
It’s not the first time that Polymarket has been criticized for offering markets linked to serious criminal cases. Recently, the company has come under fire for offering contracts about the outcome of the trial in the case of the murder of Massachusetts mother Lindsay Clancy. Critics further raised concerns that markets linked to criminal proceedings could create financial incentives for individuals to interfere with investigations or prosecutions.
Public criticism of the Polymarket contract has also extended to the high-profile figures associated with the platform. One of them was famous basketball player LeBron James, who endorses Polymarket. He recently appeared in a star-studded advertisement alongside several other prominent personalities. A representative for director Spike Lee, who also appeared alongside James in the commercial, declined to comment.
Polymarket defended itself by saying that the company’s primary goal is to provide objective, data-driven insight into the most important issues of the time. It explained that the market focused on whether the government would take action. However, the company acknowledged public concerns, noting its belief in the wisdom of crowds, and confirmed that the market had been removed.
In other news about Polymarket, earlier this month, the company said it addressed some concerns about player safety by partnering with Birches Health to help provide mental health resources for traders who experience problematic buying behavior.