Polymarket paid online creators to produce deceptive videos about making lucrative bets on its prediction market, according to a Wall Street Journal investigation.
The Wall Street Journal analyzed 1,100 videos about Polymarket and reviewed instructional materials provided to creators. Many videos were filmed on "near-perfect copies" of the Polymarket website, featuring fictitious trades and winnings.
The videos were promoted by a "social-media army" deployed by a marketing contractor. Creators were instructed not to disclose they were paid by Polymarket, though some added "@polymarket partner" to their bios after journalists began inquiries.
"We're depicting what actually happens." — Razeen Khan, a college student and creator who worked with Polymarket until March, comparing the practice to commercials that make fast food look more appealing than it is in real life.
Polymarket stated it is "committed to maintaining accurate, fair, and transparent markets" and plans to conduct an audit of its promotional content.