Polymarket Allegedly Compensated Creators for Misleading Videos on Phantom Bets
An investigation has revealed that Polymarket has been compensating online influencers to create misleading videos depicting profitable bets on their prediction market platform.
According to recent findings, an analysis of over 1,100 videos about Polymarket, along with related instructional content provided to these creators, showed that many clips were made on almost indistinguishable replicas of the actual Polymarket site. These videos included fictional trades and bogus winnings. Furthermore, a social media campaign orchestrated by a marketing firm boosted the visibility of these videos.
The investigation also uncovered that Polymarket instructed creators not to disclose their financial arrangements with the company. However, some creators began tagging themselves as “@polymarket partner” in their profiles after inquiries from reporters.
Razeen Khan, a student and content creator who collaborated with Polymarket until March, likened the situation to advertisements that portray fast food in a more enticing manner than it truly is, stating, “We’re showcasing what really transpires.”
In response, Polymarket expressed its dedication to fostering accurate, fair, and transparent markets, announcing intentions to audit its promotional practices.
