So, according to a Wall Street Journal investigation on Polymarket:
- Reviewed 1,105 promotional videos
- generated more than 140 million views
- paid creators $2,000–$3,000 per month
- featured $1.9 million in displayed bets
The investigation alleges that:
- many of the featured bets were never actually placed
- some creators used demo environments rather than the live platform
- certain videos were recorded on a lookalike site, “poiymarketcom”
According to the report:
- 118 videos showed profits that allegedly never existed
roughly
- $900,000 in displayed winnings were not real
- one creator appeared to win $100,000, but WSJ says the trade never occurred
Why it matters:
- some viewers reportedly copied the showcased trades
- those positions would have lost more than $166,000
- despite videos portraying large gains
The report also alleges that:
- creators were encouraged to make content more engaging
- videos were boosted through repost networks
- campaigns targeted U.S. audiences
- despite Polymarket restricting U.S. users
Polymarket denies wrongdoing, says its markets remain accurate, fair, and transparent and has announced a full audit of its promotional content
Times are crazy