Polymarket paid creators for deceptive fake bet videos
Original: Polymarket reportedly paid creators to post deceptive videos about fake bets
Why This Matters
Highlights potential regulatory and reputational risks for crypto platforms using misleading marketing tactics to attract users.
Polymarket reportedly compensated online creators to post deceptive videos showing fake profitable bets on its prediction market platform. Wall Street Journal analysis of 1,100 videos found trades and winnings depicted were not real, filmed on near-perfect website copies.
A Wall Street Journal investigation revealed that Polymarket paid online creators to produce deceptive promotional videos featuring fabricated trades and winnings on the prediction market platform. The WSJ analyzed approximately 1,100 creator videos and reviewed instructional materials provided by Polymarket. Many videos were filmed on near-identical copies of the Polymarket website, showcasing trades and profits that did not actually occur. The company deployed a marketing contractor to amplify these videos through coordinated social media distribution. Polymarket instructed creators not to disclose their compensation, though creators began adding "@polymarket partner" designations to their profiles after journalists began investigating. Razeen Khan, a college student creator who worked with Polymarket until March, compared the practice to fast food advertising that makes products appear more appealing than reality: "We're depicting what actually happens." In response, Polymarket stated it is "committed to maintaining accurate, fair, and transparent markets" and announced plans to conduct an audit of its promotional content.