Polymarket has been paying online creators to post fraudulent videos showing them making profitable bets on prediction markets, according to a new investigation by the Wall Street Journal.
WSJ announced that it analyzed 1,100 videos related to Polymarket and also watched educational materials provided by Polymarket to creators. Many of these videos were reportedly filmed as “almost perfect copies” of the Polymarket website and did not include actual deals and prizes. Creator videos were then amplified by “social media armies” deployed by marketing contractors.
WSJ also revealed that the company instructed creators not to indicate that they received money from Polymarket. But after journalists started asking questions, creators started adding “@polymarket Partner” to their bios.
Razeen Khan, a college student and creator who worked at Polymarket until March, likened the practice to advertising that makes fast food look more appealing than it actually is. “We are depicting what actually happens.”
Polymarket said it plans to conduct an audit of promotional content, saying, “We are doing our best to maintain an accurate, fair and transparent market.”
