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Polymarket reportedly paid people to post fake videos of themselves placing bets

Polymarket is under scrutiny for paying influencers to create videos of fabricated trades and wins. The National Association of Consumer Advocates has filed a lawsuit alleging deceptive social media practices. Two senators are now demanding a federal investigation into the platform's marketing.

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What changed

New developments include a lawsuit from consumer advocates and calls from two senators for a federal probe.

Live updates

  1. Polymarket Faces Lawsuit and Federal Probe Calls Over Fake Bet Ads

    Polymarket is under scrutiny for paying influencers to create videos of fabricated trades and wins. The National Association of Consumer Advocates has filed a lawsuit alleging deceptive social media practices. Two senators are now demanding a federal investigation into the platform's marketing.

    What's confirmed:

    • A Wall Street Journal investigation found Polymarket paid content creators to produce videos of fake trades showing large financial gains.
    • Polymarket launched a probe into these marketing practices.

    Still unconfirmed:

    • Polymarket created a fake-win factory to recruit users in the US where it is legally barred from operating.
    • The National Association of Consumer Advocates sued the platform for using deceptive social media to lure people into wagering.
    • Two senators are calling for a federal investigation into the promotion of fake bets.
    confidence 90%

  2. Polymarket Accused of Paying Creators for Fake Winning Bet Videos

    A Wall Street Journal investigation alleges Polymarket paid influencers to post deceptive videos showing fabricated wins. These videos reportedly used dummy websites to simulate trades that were not real. Polymarket has launched a probe following these reports.

    What's confirmed:

    • Polymarket paid creators to post videos depicting fabricated bets and winnings.
    • The deceptive videos featured trades and winnings that were not real.
    • Creators used cloned or dummy versions of the Polymarket website to film the videos.
    • Polymarket launched a probe after the Wall Street Journal reported the deceptive marketing.

    Still unconfirmed:

    • Polymarket paid at least 10 influencers over several months to pretend they won hundreds of dollars.
    • None of the roughly $1.9 million in bets shown across 1,105 creator videos were real.
    • Creators did not disclose that they were paid by the platform.
    confidence 90%