Polymarket Faces Backlash Over Venezuela Invasion Bet

According to BlockBeats, prediction market Polymarket is under fire after refusing to pay out bets related to a potential U.S. invasion of Venezuela. The company stated that recent events did not constitute an 'invasion.' As per Polymarket's website, the prediction that the U.S. would invade Venezuela by December 31 was deemed false, with the trading volume reaching $2.76 million. An anonymous user questioned on Polymarket's site, "What exactly counts as an invasion?" and labeled the company as "Polyscam." Another user criticized Polymarket for arbitrary decisions, arguing that words are being redefined and facts ignored. They expressed disbelief that a military invasion, the kidnapping of a country's leader, and a takeover were not considered an invasion. Another user sarcastically asked if it was a joke, while one questioned if the lack of casualties and the swift nature of the action meant it wasn't an invasion. The New York Times cited a Venezuelan official stating the raid resulted in 80 deaths. Polymarket explained on its website that the market referred to a U.S. military action aimed at establishing control. U.S. President Donald Trump's comments about "running" Venezuela during negotiations with its government were not enough to classify the operation to capture Maduro as an invasion. MarketWatch sought clarification from Polymarket but received no response. Attempts to contact its founder and CEO, Shayne Coplan, also went unanswered.