Polymarket Users Outraged Over TikTok Ban Bet Settlement
Lina Almans
28 January 2025
Comment 0
Some users of the crypto-based betting exchange Polymarket are protesting the settlement of wagers on whether TikTok would be banned in the U.S.
The now-closed market was titled: “TikTok banned in the US before May 2025?” with “Yes” and “No” as betting options.
On January 19, TikTok became inaccessible to U.S. users following a Supreme Court ruling. Polymarket used this as the basis to settle bets in favor of those who wagered on a ban.
However, later that same evening, TikTok was back online in the U.S.
The platform’s return was made possible by President-elect Donald Trump, who successfully pushed for a suspension of the court’s ruling.
In reality, TikTok was down for less than a day, and no official nationwide ban is currently in place. This has infuriated Polymarket users who bet “No.”
Angry bettors argue they were outright cheated. Polymarket, however, maintains that the bet was settled fairly, citing the Supreme Court’s decision and the temporary ban.
It’s worth noting that nearly $120 million was wagered on this market.
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