Polymarket removes contract tied to Cornell case

Prediction market platform Polymarket has removed a contract on whether any of seven men accused of raping a student at Cornell University in 2024 would be charged with a felony sex offense. The move came after intense public backlash.

The former student, identified as Jane Doe in court documents, alleges she was assaulted at the Chi Phi fraternity house in October 2024 after being given alcohol, cannabis and ketamine. A civil lawsuit was filed on September 16. The defendants deny the allegations, and none has faced criminal charges. Local prosecutors initially chose not to bring charges, but the case was reopened after public outcry. Governor Kathy Hochul appointed Attorney General Letitia James as special prosecutor.

The contract was opened on September 30 and was set to run until January 31. Before it was removed, it recorded more than $450,000 in trading volume. Attorney Cheyenne Hunt called the contract "dehumanizing, disgusting and dangerous" on Instagram. I Have The Right To, an organization that supports victims of sexual assault, also argued that allegations of sexual violence were being turned into a way to make money.

The platform had also been criticized over contracts related to the murder case of Massachusetts mother Lindsay Clancy. Critics say markets tied to criminal investigations could create a financial incentive for interference. Basketball player LeBron James, one of the platform's public faces, was also drawn into the controversy. A representative for director Spike Lee declined to comment.

Polymarket said its aim is to provide objective, data-driven information on the important issues of the day. The company said the contract focused on whether the government would take action, and confirmed the market was removed, acknowledging the public's concerns.