Polymarket Halts Betting on US Pilots' Fate After 'Disgusting' Backlash

Online betting platform Polymarket has come under fire for allowing users to wager on the fate of US pilots shot down in Iran. The platform has since halted the bets and promised to investigate how they were allowed to happen.

The controversy began when US Representative Seth Moulton publicly denounced the practice, calling it 'DISGUSTING' that people were betting on the pilots' rescue while search efforts were still underway. Moulton, a veteran of the US Marine Corps, expressed his outrage on social media platform X.

The incident involved an F-15E Strike Eagle jet shot down by Iranian military forces, with one pilot rescued within seven hours and the other rescued on Sunday, as announced by Donald Trump on his Truth Social platform.

Polymarket initially allowed users to bet on the timing of the rescues, with most wagers predicting they would occur by Saturday. However, after Moulton's criticism, the platform quickly removed the market, stating it did not meet their integrity standards and vowed to investigate.

Moulton did not stop there, calling on Polymarket to deactivate hundreds of other war-related wagers, accusing the company of having 'severely lacking' integrity standards. He also mentioned that Donald Trump Jr, the president's oldest son, is an investor in Polymarket, which Moulton referred to as a 'dystopian death market'.

This incident is not the first time Polymarket has faced scrutiny. In March, some users generated international headlines by sending threatening messages to an Israeli journalist after betting on a missile strike near Jerusalem.

The controversy surrounding prediction markets like Polymarket has drawn congressional attention, with lawmakers introducing proposals to ban betting on certain topics, including sports, government actions, and events 'ripe for rigging'. US Senator Chris Murphy stated that such markets risk 'corrupting the soul of America' by turning life-and-death events into financial products.