Polymarket took down wagers tied to rescue of downed Air Force officer
A Democratic congressman had harsh criticism for Polymarket for allowing users to bet on the date the United States would confirm the rescue of Air Force service members shot down over Iran.
In a social media post on Friday, Representative Seth Moulton wrote, “They could be your neighbor, a friend, a family member. And people are betting on whether or not they’ll be saved. This is DISGUSTING.” (President Donald Trump announced early Sunday that the second service member, a weapons system officer, has been rescued.)
Related Knowledge Center: Prediction markets
Platforms are offering a way for users trade positions — place bets — on a wide range of possible events, and newsrooms are starting to incorporate the data.
As the business rapidly grows, critics and opponents are pushing back. Numerous states have argued that the markets are gambling, and sports gambling in particular is regulated by the state. The Commodity Futures Trading Commission, now led by a Trump appointee, disagrees — as did a federal district court judge in a suit involving New Jersey.
Critics see some of the markets as, particularly in the case of military actions, indefensible, and note as well that some large, well-timed bets — “event contracts” — suggest an abuse of insider knowledge of federal actions.