Polymarket CLO apologizes for company post allegedly including racist language

 

 
     

    After a post to social media allegedly containing racist language from Polymarket’s company account, a representative for the company has apologized.

    Prediction market Polymarket was quickly called out for a now-deleted post to X that allegedly contained ethnic slurs. The post reportedly used racial insults while accusing some of its users based in India, Nigeria, and Turkey of pretending to be women.

    The company’s Chief Legal Officer, Neal Kumar, has taken to X to address the message, apologizing for it and saying the company “takes full responsibility”.

    “The post earlier this week from an unofficial Company account was unacceptable, and we take full responsibility,” he wrote. “As an Indian American, looking up the history of the term sucked. I’ve always found engagement to be far more effective than rage, and believe this came from a place of misunderstanding, not hate.

    “Uncomfortable conversations to understand each other is a practice to live and breathe, and we had one here this week to make us stronger. We apologize for the pain and we are committed to doing better.”

    Backlash to Polymarket on social media

    Social media users have used the example of this post to criticize Polymarket’s presence on social media in general.

    “Polymarket’s social media strategy is the worst I’ve ever seen,” wrote founder and CEO of Creator Buddy, Alex Finn. “Almost every official account tweets rage bait, misinformation, and lies. All just to drive engagement. You’re turning off a lot of people and I’d encourage you to reconsider the entire strategy.”

    Others argue that the apology should come from the official Polymarket account, not Kumar’s, with another social media user, Andy Parackal, writing: “The racist post wasn’t some random meme; it targeted Indians, Nigerians, and Turks, and it was posted under an account literally signing off as the Polymarket traders. So why is the apology coming from you personally, instead of the official Polymarket account where the slur was posted?”

    Polymarket typically uses its X account to promote certain contracts and bets that can be placed on the predictions market platform, with some recent examples including whether Jesus Christ will return before 2027 and whether a turkey will audibly gobble during the official pardoning, among other financial and political contracts.

    ReadWrite has reached out to Polymarket for further comment. This comes hot on the heels of Polymarket securing CFTC approval to return to the US.

    Featured image: Polymarket

    The post Polymarket CLO apologizes for company post allegedly including racist language appeared first on ReadWrite.

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    Rachael Davies

    Freelance Journalist

    Rachael Davies has spent six years reporting on tech and entertainment, writing for publications like the Evening Standard, Huffington Post, Dazed, and more. From niche topics like the latest gaming mods to consumer-faced guides on the latest tech, she puts her MA in Convergent Journalism to work, following avenues guided by a variety of interests. As well as writing, she also has experience in editing as the UK Editor of The Mary Sue , as well as speaking on the important of SEO in journalism at the Student Press Association National Conference. You can find her full portfolio over on…

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