A Wall Street Journal investigation has sparked widespread controversy after revealing that the predictions and betting platform Polymarket paid online content creators to post misleading videos suggesting huge profits through betting on the platform.
The newspaper based its investigation on an analysis of approximately 1,100 videos related to Polymarket, along with a review of instructional materials provided to the content creators participating in the promotional campaign.
The investigation revealed that a large number of the videos used near-perfect replicas of the Polymarket website interface, showcasing trades and profits that never actually occurred, giving viewers a false impression of the possibility of making substantial gains.
The report also indicated that these videos were not only produced but also widely disseminated through what it described as an “army of accounts” on social media platforms, managed by a marketing agency contracted by the company to increase content reach and attract new users.
The investigation also revealed that Polymarket asked some content creators not to explicitly disclose that they were being paid to promote the platform.
After Wall Street Journal journalists began questioning these practices, several participants added the handle @polymarket partner to their social media profiles.
Razeen Khan, a college student and content creator who collaborated with Polymarket until last March, said that what was happening was not much different from advertisements that make fast food seem more appealing than it actually is, adding, “We’re just depicting what can actually happen.”
Polymarket, for its part, asserted that it is “committed to maintaining accurate, fair, and transparent marketplaces,” and stated that it intends to conduct a thorough review of all promotional content associated with the platform to ensure compliance with its standards.
