Polymarket Paid Creators for Fake Bets on Dummy Websites: WSJ Investigation
Prediction market platform Polymarket faces serious allegations after a Wall Street Journal investigation revealed it paid creators to stage fake bets on replica websites.
WSJ Investigation Findings
The Wall Street Journal reviewed over 1,100 videos from 10 social media creators. According to the report, none of the roughly $1.9 million in bets shown in these videos were real.
Creators, mostly college-age students, were paid to film themselves placing fake bets and sometimes celebrating fake wins on near-identical copies of the Polymarket website.
How the Fake Betting Campaign Worked
Polymarket created dummy websites for the videos, including one using the misspelled domain “poiymarket.com”. This looked very similar to the real polymarket.com when viewed quickly.
In one example, a creator showed a $100,000 fake win on a bet that Donald Trump would say “McDonald’s” — using old footage. In reality, that bet lost money for actual users.
Creators received $2,000 to $3,000 per month and were instructed not to disclose the paid arrangement. The campaign generated over 140 million views across TikTok, YouTube, and Instagram, mainly targeting U.S. audiences.
Polymarket’s Response
Polymarket told the Wall Street Journal it is committed to accurate, fair, and transparent markets. The company said it will conduct a full audit of its promotional content.
Broader Context
This controversy comes as Polymarket tries to gain mainstream legitimacy and reverse its 2022 restrictions in the United States. The platform remains barred from directly serving American users but is still accessible via VPN.
The report also highlights other marketing issues, including payments through personal accounts and promotion of videos discussing insider trading.
Polymarket is currently trailing rival Kalshi in trading volume, according to market data.
