Polymarket removes bets on outcome of Cornell sexual assault case
Summary
Polymarket removed a betting contract about whether seven men accused of sexual assault at Cornell University would be charged with felony sex crimes. The platform took down the contract after public criticism and legal concerns, and no charges have been filed against the men.Key Facts
- Polymarket offered bets on whether seven men accused of sexual assault at Cornell would face felony charges.
- Users wagered more than $450,000 before the contract was removed.
- The contract was available from September 30, 2024, until it was removed, initially set to close on January 31, 2025.
- Polymarket’s U.S. platform is regulated by the Commodity Futures Trading Commission, which prohibits trading on illegal activities.
- The company removed the contract after hearing public concerns and criticism.
- Several celebrities, including LeBron James and Derek Jeter, appeared in Polymarket commercials and have endorsement deals with the company.
- The alleged victim filed a civil lawsuit against the men and Cornell University, claiming sexual assault and mishandling of the complaint.
- All accused men deny the allegations and have not been charged with a crime.
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