It is allowed. But the condition that the woman must be chaste has to be met. It is only allowed for the men.
This day [all] good foods have been made lawful, and the food of those who were given the Scripture is lawful for you and your food is lawful for them. And [lawful in marriage are] chaste women from among the believers and chaste women from among those who were given the Scripture before you, when you have given them their due compensation, desiring chastity, not unlawful sexual intercourse or taking [secret] lovers. And whoever denies the faith – his work has become worthless, and he, in the Hereafter, will be among the losers. (Qur'an 5:5)