Cryptocurrency bettors projected a guilty verdict for rapper Sean “Diddy” Combs on sex trafficking charges, despite prosecutors dropping serious charges against him.
What Happened: Odds that the rapper is convicted of sex trafficking or a related felony charge rose 3 percentage points in the last 24 hours to 66% on Polymarket, a decentralized prediction platform. At one time, the probability had hit 74%.
The outcome would resolve to “Yes” if an official judgment is delivered by the ruling court before the end of the year. Any appeals will have no bearing on the resolution.
Polymarket, based on Polygon (CRYPTO: POL), allows users to buy "Yes" and "No" shares in USDC (CRYPTO: USDC) stablecoin. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.
Why It Matters: Diddy has faced multiple lawsuits alleging sexual misconduct, abuse, and sex trafficking, including from former girlfriend Casandra Ventura. He has denied the allegations.
The prosecution in his trial delivered its closing arguments on Thursday, saying that the music mogul used a corporate “kingdom”, assault, narcotics, and fraud to compel women into unwanted sex activities, the BBC reported.
Fellow rapper Curtis "50 Cent" Jackson has publicly criticized Diddy, stating that if Diddy is convicted, he will personally dissuade President Donald Trump from pardoning him.
Trump, when asked about a possible pardon for Diddy, had told reporters, “I would certainly look at the facts. If I think somebody was mistreated, whether they like me or don’t like me, wouldn’t have any impact.”
Interestingly, Diddy has been lodged in the same prison as cryptocurrency fraudster Sam Bankman-Fried. In an interview, Bankman-Fried said that Diddy has been "kind" to people in the unit.
Photo Courtesy: Lev Radin On Shutterstock.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
