Bicalutamide and Raloxifene Hydrochloride in Treating Patients With Prostate Cancer Undergoing Surgery

Inclusion Criteria: * Histological confirmation of adenocarcinoma of the prostate, \>= Gleason 6, clinical stage T1a-T2c and planned for radical prostatectomy * Eastern Cooperative Oncology Group (ECOG) performance status (PS) 0-2 * Platelet count \>= 50,000/mm\^3 * Hemoglobin \> 9.0 g/dL * Creatinine =\< 2.0 mg/dL * Provide informed written consent * Willing to return to enrolling institution for follow-up (during the Active Monitoring Phase of the study); Note: during the Active Monitoring Phase of a study (i.e., active treatment and observation), participants must be willing to return to the consenting institution for follow-up * Patients must also provide written consent for biospecimens collection on Institutional Review Board (IRB) 08-000980 Exclusion Criteria: * Uncontrolled intercurrent illness including, but not limited to, ongoing or active infection, symptomatic congestive heart failure, unstable angina pectoris, cardiac arrhythmia, or psychiatric illness/social situations that would limit compliance with study requirements * Receiving any other investigational agent which would be considered as a treatment for the primary neoplasm * History of myocardial infarction =\< 6 months, or congestive heart failure requiring use of ongoing maintenance therapy for life-threatening ventricular arrhythmias * History of a venous thromboembolic event, cerebrovascular accident (CVA), hepatic impairment, or heart failure