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Polymarket reportedly paid creators to post deceptive videos about fake bets

Polymarket is facing a lawsuit and federal scrutiny after reports that it paid creators to film staged bets on replica websites. These videos allegedly showed fake financial gains to attract users. Bipartisan senators are now calling for the CFTC to investigate the company's marketing practices.

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What changed

New reports indicate Polymarket has been sued and is facing demands from U.S. senators for a federal probe.

Live updates

  1. Polymarket Faces Lawsuit and Senate Pressure Over Deceptive Ads

    Polymarket is facing a lawsuit and federal scrutiny after reports that it paid creators to film staged bets on replica websites. These videos allegedly showed fake financial gains to attract users. Bipartisan senators are now calling for the CFTC to investigate the company's marketing practices.

    What's confirmed:

    • A Wall Street Journal investigation found Polymarket paid content creators to produce videos of fake trades showing big financial gains.
    • The staged betting videos used replica versions of the website and gathered over 140 million views.
    • Senators Adam Schiff and John Curtis urged the CFTC to investigate the platform's deceptive marketing.
    • Polymarket has launched a probe into these allegations.

    Still unconfirmed:

    • Polymarket used a fake-win factory to recruit US users it was legally barred from serving.
    • A lawsuit accuses Polymarket of using flagrantly deceptive social media ads.
    confidence 90%

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

    An investigation by the Wall Street Journal found that Polymarket paid online creators to post deceptive videos showing fabricated bets and winnings. These videos were filmed on dummy websites that looked like the actual platform. Polymarket has launched a probe following these allegations of deceptive marketing.

    What's confirmed:

    • Polymarket paid creators to post videos depicting fabricated bets and winnings on social media.
    • The deceptive videos were filmed using dummy sites or near-perfect copies of the Polymarket website.
    • The Wall Street Journal reviewed 1,105 videos and the guidance provided to creators.
    • Polymarket started a probe after the Wall Street Journal reported the deceptive marketing.

    Still unconfirmed:

    • The campaign was intended to lure US users.
    • The bets shown in the videos would have lost money.
    confidence 95%