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Polymarket staged $1.9M in fake bets: the influencer playbook
A WSJ investigation found Polymarket staged about $1.9 million in fake bets across paid influencer videos. Inside the scheme, the data, and what's next.
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A Wall Street Journal investigation found that Polymarket staged roughly $1.9 million in fake bets across paid influencer videos. The scheme involved creators filming themselves placing wagers that were never actually funded, then posting the clips as if they were real trading wins.
The WSJ identified at least 10 influencers who received payments from Polymarket or its marketing partners to produce the videos. In several cases, the on-screen bet amounts exceeded the influencer's actual account balance at the time of recording. One clip showed a trader claiming a $500,000 profit on a single election contract; the account history showed no such trade existed.
Polymarket's terms of service prohibit fake trading and misleading promotional content. The company told the WSJ it had terminated relationships with the influencers involved and was reviewing its marketing compliance procedures. It did not disclose the total amount paid for the staged content.