Polymarket paid online creators to post deceptive videos showing them making lucrative bets on prediction markets, according to a new Wall Street Journal investigation.
WSJ said it analyzed 1,100 videos about Polymarket and also looked at educational materials the company provided to creators. Many of these videos were reportedly filmed on “near perfect copies” of polymarket websites and featured inauthentic transactions and winnings. The creator's videos were then amplified by a “social media army” deployed by marketing contractors.
According to WSJ, the company told creators not to specify that they received compensation from Polymarket, but after journalists started asking questions, creators began adding “@polymarket partner” to their bios.
“We're depicting what's actually happening,” said Razeen Khan, a college student and creator who worked at Polymarket until March, likening the practice to commercials that make fast food look more glamorous than reality.
Polymarket said it was “committed to maintaining an accurate, fair and transparent marketplace” and would conduct an audit of its promotional content.