Polymarket Pulls ‘Cornell 7’ Rape Case Bets After $450K in Trades

Prediction-market giant Polymarket pulled a betting market on the Cornell University gang-rape case Monday (Oct. 19) after a backlash from anti-sexual violence campaigners, according to Front Office Sports, which first reported the controversy. Polymarket initially attempted to defend the controversial market before pulling it Monday amid criticism that it was allowing users to profit from sexual assault allegations. (Polymarket) Launched September 30 on Polymarket’s international platform, the market asked whether any of the seven accused fraternity members would be charged with a felony sex crime by January 31, 2027. The market attracted $451,633 in trading volume before its removal. At that time, traders were pricing the probability of charges being filed at around 28%. The market was not available through Polymarket’s separately operated US app. ‘Dehumanizing, Disgusting, and Dangerous’ The market concerned allegations made by a former Cornell 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 September 16, Doe alleges that seven fraternity members sexually assaulted her after supplying her with alcohol, marijuana, and ketamine. The defendants have denied wrongdoing, and none has been criminally charged. Local prosecutors initially declined to pursue charges, but the case was reopened in the wake of the lawsuit and widespread public criticism. New York Gov. Kathy Hochul subsequently appointed Attorney General Letitia James as special prosecutor. The Polymarket betting market prompted outrage among advocates, including attorney Cheyenne Hunt, who called it “dehumanizing, disgusting, and dangerous” in an Instagram post. Sexual assault advocacy nonprofit I Have The Right To also condemned the market, accusing Polymarket of turning alleged sexual violence into a financial opportunity. Critics also questioned whether markets tied to criminal proceedings could create financial incentives to interfere with investigations or prosecutions. Celebrity Endorsers Targeted The controversy threatened to embarrass Polymarket’s growing roster of celebrity endorsers, including NBA superstar LeBron James, former NFL quarterback Eli Manning, and baseball legend Derek Jeter. According to Front Office Sports, James receives $15 million annually to promote the platform. Advocates called on celebrity ambassadors to reconsider their association with the company. Polymarket initially attempted to defend the market. “This case, and sexual assault on college campuses more broadly, are deeply important issues, and markets bring objective, data-driven insight into how a matter like this is moving through the legal system, on a topic that deserves far more transparency and honest attention,” a spokesperson told Front Office Sports. The company subsequently acknowledged the backlash, telling the Associated Press it had heard public objections “loud and clear” and removed the market. Polymarket has previously attracted criticism for offering wagers involving criminal cases, including the murder trials of Massachusetts mother Lindsay Clancy and Tyler Robinson, the Utah man accused of assassinating conservative activist Charlie Kirk. This has raised fears that prediction-market gamblers could attempt to influence jurors or interfere with verdicts. The post Polymarket Pulls ‘Cornell 7’ Rape Case Bets After $450K in Trades appeared first on Casino.org.