Polymarket paid creators for deceptive fake bet videos, report says
▼ Summary
– Polymarket paid online creators to post deceptive videos showing fake lucrative bets on the platform, according to a Wall Street Journal investigation.
– The WSJ analyzed 1,100 videos and found many were filmed on near-perfect copies of the Polymarket website featuring unreal trades and winnings.
– A marketing contractor amplified these videos with a “social-media army,” and creators were told not to disclose they were paid by Polymarket.
– Creator Razeen Khan compared the practice to commercials making fast food look more appealing, stating they depict “what actually happens.”
– Polymarket said it is “committed to maintaining accurate, fair, and transparent markets” and plans to audit its promotional content.
Polymarket allegedly paid online creators to produce deceptive videos showcasing fake winning bets on its platform, according to a recent investigation by the Wall Street Journal. The report claims these misleading promotions were designed to draw in users with fabricated success stories.
The WSJ analyzed roughly 1,100 videos related to Polymarket and reviewed instructional materials the company supplied to creators. Many clips were filmed on “near-perfect copies” of the Polymarket website, featuring trades and payouts that never actually occurred. A marketing contractor then amplified these videos using a coordinated social-media army to boost their reach and credibility.
The investigation also found that Polymarket instructed creators not to disclose they had been paid for their content. However, after journalists started probing, some creators updated their bios to include “@polymarket partner.” Razeen Khan, a college student and creator who worked with Polymarket until March, defended the approach by comparing it to commercials that make fast food look more appetizing than reality. He explained, “We’re depicting what actually happens.”
In response, Polymarket stated it is “committed to maintaining accurate, fair, and transparent markets” and plans to conduct an audit of its promotional content to address the concerns raised.
(Source: TechCrunch)
