Polymarket Faces Backlash for Allowing Bets on U.S. Pilots' Fate
Polymarket, a prediction market platform, found itself in hot water after users were allowed to place bets on the fate of American pilots involved in a recent incident over Iran.
A U.S. official confirmed that a two-seater F-15E Strike Eagle was shot down on Friday. One pilot was rescued, while the other remains unaccounted for.
In a now-removed betting market, participants speculated on the timing of the pilots' rescue, with many anticipating a Saturday outcome. The market posed the question, “US confirms pilots rescued by...?”
Rep. Seth Moulton, a veteran of the U.S. Marine Corps who served in Iraq, condemned the betting activity in a post on X, highlighting the insensitivity of wagering during an active search and rescue operation.
"They could be your neighbor, a friend, a family member," Moulton expressed. "And people are betting on whether or not they’ll be saved." His outrage was palpable as he declared, "This is DISGUSTING."
In response to Moulton's criticism, Polymarket issued an apology and promptly removed the market. "We took this market down immediately as it does not meet our integrity standards," the company stated. "It should not have been posted, and we are investigating how this slipped through our internal safeguards."
Moulton did not hold back in his reply to Polymarket’s apology, asserting that the company’s “integrity standards are severely lacking.” He pointed out that numerous other war-related bets remained active on the platform.
"Taking down this particular bet after I called it out can only be the first step, @Polymarket," he insisted. "There are still 219 war bets active on your platform. Remove these immediately."
As prediction market platforms gain traction, they have attracted scrutiny from lawmakers. Recently, a Senate bill was introduced aiming to prohibit these platforms from accepting or listing transactions related to sports events and casino-style games.
In addition, Sen. Chris Murphy, D-Conn., has committed to proposing legislation that would ban bets associated with government actions, particularly in light of wagers linked to ongoing conflicts.
