Polymarket reportedly paid creators to post deceptive videos about fake bets

Recent findings from an investigation by the Wall Street Journal reveal that Polymarket has been compensating online influencers to create misleading videos that portray them making profitable bets on the prediction market platform. The investigation scrutinized over 1,100 videos related to Polymarket and examined instructional materials provided to these creators. Many of the videos were reportedly filmed using almost identical replicas of the Polymarket website, showcasing trades and winnings that were fabricated. To amplify this content, the company employed a 'social-media army' through a marketing contractor, enhancing the visibility of these misleading promotions. Additionally, it was reported that creators were advised not to disclose their financial relationship with Polymarket, although some began adding ' @polymarket partner' to their social media bios after inquiries from journalists. Razeen Khan, a college student and content creator who collaborated with Polymarket until March, likened the situation to advertisements that portray fast food in an overly appealing manner, stating, 'We’re depicting what actually happens.' In response to the allegations, Polymarket expressed its commitment to ensuring accurate, fair, and transparent market practices and announced plans for an audit of its promotional content.