There are penalties for cutting a player, too. Does that mean that it's not allowed?
The reason why your analogy is completely baseless is that criminal law and contract law are entirely separate. This is exactly why analogies are iffy as a debate tool, since you can always draw false equivalence to make your point seem more correct than it is (or, more accurately, to make the opposing point seem less correct). In this case, you've made the leap over to criminal law for.... well, absolutely no reason. Based on your confusion between criminal and contract law alone, it's pretty clear that you might want to revisit this whole thing from the ground up.
A far more apt analogy would be an early termination fee in a service contract, or an under-lifting penalty in a forward contract, or something of that nature. It doesn't really matter that much, as long as you're staying with contracts. These fees are the agreed-upon penalties for violating specific terms of the contracts. Talking about what is and isn't "allowed" is completely beside the point, and once again confuses contract law with something else.
The closest analogy to this that we have all probably experienced is a cell phone service contract. If you cancel your contract before the service term has expired, then you have broken the contract, and as a result you are liable for the early termination fee that both you and the provider agreed to when you signed the contract. By your logic, the customer is not "allowed" to do this, since the presence of agreed-upon penalties does not legitimize the act of cancelling your account. In truth, that's exactly what these penalties are for, and that's why your cell phone provider won't/can't successfully sue you if you break the agreement and pay the fee.
Example (and I'm actually going to stay in the realm of contract law): I sign a contract
saying that I am going to perform ongoing services for you for 100 hours per month. If I fail to meet this obligation, then under the contract I am obligated to pay a fine of X. One month, I fail to meet the 100 hour obligation, so I pay you X, as we agreed. What do you think would happen if you then tried to sue me for breach of contract?