A recent investigation by The Wall Street Journal has revealed that Polymarket has been financially incentivizing online creators to produce misleading videos showcasing fictitious bets on its prediction market platform.
The analysis conducted by the WSJ encompassed 1,100 videos related to Polymarket, alongside instructional content provided by the company to its creators. Many of these videos were reportedly shot on “near-perfect replicas” of the Polymarket website and showcased trades and winnings that were fabricated. Furthermore, a “social-media army” managed by a marketing contractor amplified the reach of these deceptive videos.
According to the WSJ report, Polymarket instructed creators not to disclose their financial relationship with the platform. However, following inquiries from journalists, many creators began to include the phrase “@polymarket partner” in their social media bios.
Razeen Khan, a college student and content creator who collaborated with Polymarket until March, likened the strategy to advertisements that make fast food appear more appealing than it is in reality. “We’re depicting what actually happens,” he stated, highlighting the disconnect between the portrayal and the truth.
In response to these allegations, Polymarket asserted its commitment to “maintaining accurate, fair, and transparent markets” and announced plans for an audit of its promotional materials.
