Polymarket accused of marketing to US users through simulated trading and fake profit videos

Odaily Odaily reports that prediction market platform Polymarket has been accused of promoting its products on social media by paying creators to post videos featuring simulated trading and fake profits.

According to the report, the creators used simulation sites that closely resemble Polymarket's actual website to produce trading videos. Some of the content showcased high returns that did not actually occur, and certain videos required approval from Polymarket before posting. Polymarket managed these influencer campaigns through the marketing firm Virality. Despite its services being restricted for US users, the promotional activities still appear to have been targeted at an American audience.

Furthermore, the Wall Street Journal reported that Polymarket had a multi-million dollar promotional partnership with influencer Adin Ross to drive user engagement on the platform. Polymarket has not yet issued a public response to these allegations. (Wall Street Journal)