Polymarket Paid Creators to Stage Fake Bets, WSJ Investigation Finds
A Wall Street Journal investigation found that Polymarket, a crypto prediction market platform, paid dozens of mostly college-age creators to film fake bets, including staged wins, on dummy copies of its website. The paper reviewed 1,105 videos from 10 creators since December, finding that none of the roughly $1.9 million in wagers shown were real. One clip showed a creator celebrating a $100,000 win on a bet about President Trump saying 'McDonald's'—footage that was filmed two months earlier, and the bet actually lost. The campaign targeted U.S. users, who are barred from Polymarket's main platform. Creators were paid $2,000–$3,000 monthly and told not to disclose the arrangement. Polymarket hired marketing firm Virality to manage the network, paying creators only when at least 60% of their audience was U.S.-based. The report complicates Polymarket's push for mainstream credibility, as it faces state lawsuits over alleged illegal gambling and regulatory scrutiny from the CFTC. Polymarket said it is 'committed to maintaining accurate, fair, and transparent markets' and plans a comprehensive audit of its promotional content.
Key facts
- WSJ review of 1,105 videos found none of $1.9 million in wagers shown were real.
- Creator faked $100,000 win on Trump 'McDonald's' bet; footage filmed two months earlier.
- Dummy websites included misspelled domain 'poiymarket.com' built by Polymarket.
- Creators paid $2,000-$3,000 monthly, told not to disclose arrangement.
- Polymarket faces state lawsuits and CFTC scrutiny over fake betting campaign.