$1.9M in Fake Bets Drove Polymarket Hype: WSJ
Polymarket reportedly paid dozens of mostly college-age creators to post promotional videos showing fake bets, and sometimes fake wins, on copycat versions of its website. A Wall Street Journal review of 1,105 videos from 10 creators found wagers in about 70% of them, with none of the roughly $1.9 million displayed in the clips being real. Some creators appeared to use dummy sites built for testing, including a misspelled domain resembling Polymarket. The network was managed through marketing firm Virality, and creators were paid about $2,000 to $3,000 a month while being told not to disclose the arrangement. The findings undercut Polymarket’s effort to present itself as a credible mainstream prediction market as it seeks U.S. reentry and faces regulatory pressure from states, Democrats, and the CFTC. Polymarket says it is committed to fair and transparent markets and will audit promotional content.
