Polymarket paid influencers to fake winning bets, built dummy websites to pull it off
A Wall Street Journal investigation reveals Polymarket used dummy websites to create fake winning bets. The platform paid hundreds of creators to share these clips without disclosing payment. This scheme involved approximately $1.9 million in staged wagers.
What changed
The total value of the staged bets is now identified as $1.9 million.
Live updates
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Polymarket Staged $1.9 Million in Fake Influencer Bets
confidence 70%A Wall Street Journal investigation reveals Polymarket used dummy websites to create fake winning bets. The platform paid hundreds of creators to share these clips without disclosing payment. This scheme involved approximately $1.9 million in staged wagers.
Still unconfirmed:
- Polymarket staged about $1.9 million in fake bets across paid influencer videos.
- Polymarket used dummy websites to stage fake winning bets in viral videos.
- The platform paid hundreds of creators to post clips without disclosing payments.
- Regulators are investigating these deceptive marketing practices.
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Polymarket Accused of Using Fake Bets and Paid Influencers to Lure Users
confidence 90%A Wall Street Journal investigation alleges Polymarket used dummy websites to stage fake winning bets in viral videos. The platform reportedly paid hundreds of creators to post these clips without disclosing the payments. Regulators are now investigating these deceptive marketing practices.
What's confirmed:
- Polymarket used cloned or dummy websites to stage fake winning bets for viral videos.
- The company paid creators to post videos showing these staged wins.
- Regulators are investigating Polymarket's marketing practices.
- The National Association of Consumer Advocates sued the platform over deceptive social media practices.
Still unconfirmed:
- Polymarket paid more than 800 creators over $2.5 million for staged videos.
- The platform paid at least 10 influencers over several months to pretend they won hundreds of dollars.