Polymarket exposed for fake betting video campaign in the US.
Polymarket, an American prediction market platform, funded a marketing campaign based on videos of fabricated bets and wins to promote the company on social media. The practice was exposed by an investigative report in the Wall Street Journal published this Wednesday (July 2).
The WSJ investigation analyzed 1.105 videos published by ten content creators endorsed by Polymarket between December 2025 and mid-May 2026. In 70% of the recordings, the creators simulated bets that, in practice, were never made; added together, these fictitious bets totaled US$1,9 million (R$9,9 million), according to the newspaper.
Fake bets and real losses
Of the total videos analyzed, 118 showed creators reacting to outdated or false facts to suggest they had profited from betting. In these videos, the amounts displayed as winnings reached almost US$900 (R$4,7 million). If the bets were real, however, the creators would have accumulated losses exceeding US$166 (R$866), as reported by the WSJ.
To make the campaign viable, Polymarket developed nearly identical copies of its own website, which the creators used during filming. The newspaper identified differences between the fake versions and the original site, such as typos in URLs and platform buttons. One of the fake websites was taken down after the WSJ contacted the company.
The creators received detailed instructions on how to film the simulations and were instructed not to reveal that they were being paid by the company. Compensation ranged from US$2.000 to US$3.000 per month (R$10 to R$15), according to sources familiar with the contracts. Videos deemed unattractive or with obvious flaws were returned for reshoots.
Polymarket also hired an agency to amplify the reach of the videos. The strategy of redistributing the material was carried out by teenagers in Asia through fake social media accounts. The creators were also instructed to maintain a visible distance from the brand, avoiding mentioning Polymarket in their usernames. After the newspaper contacted the company, the creators' profiles began displaying "@polymarket partner".
The newspaper cites the case of college student George Makihara as an example of the campaign. In January 2026, he posted a video in which he appeared to have won $100 in a bet on whether President Donald Trump would publicly say the word "McDonald's" that month. The event never occurred; more than 50 accounts that made the same bet on the real Polymarket website lost money, according to the WSJ . Makihara did not respond to the newspaper.
Encouraging the use of insider information
In addition to videos of fake bets, the WSJ revealed that Polymarket and the agency Virality sponsored content about the ease of operating with insider information. Influencer Adin Ross, known in the so-called "macho sphere" and holder of a multimillion-dollar contract with the platform, addressed the topic in at least five videos. In one of them, sponsored by the company, Ross commented that he could use insider information to bet on the release date of a new album by singer Drake. Representatives for Ross and Drake declined to comment.
In response to the WSJ , Polymarket stated that it plans to conduct a comprehensive audit of active promotional content. The company declared that it is “committed to maintaining accurate, fair, and transparent marketplaces. We are part of a rapidly growing industry and are constantly evaluating ways to improve how we engage with and earn the trust of our audience.” The company also stated that it “prohibits trading based on stolen information, illegal tips, or information obtained in violation of a duty of confidentiality, confidentiality, or other legal obligation.”
Investigations and legal action
The publication of the report generated institutional reactions in the United States. Two senators requested a federal investigation by the CFTC (Commodity Futures Trading Commission) into the promotion of fake betting on social media. A source with knowledge of the matter told the WSJ that the CFTC is already investigating Polymarket, although the subject of the investigation has not been identified; the agency refused to confirm the existence of the process. A spokesperson for the Federal Trade Commission, responsible for enforcing advertising laws in the United States, also declined to comment, citing the agency's policy of not commenting on potential investigations.
On Friday (June 26), a consumer advocacy group filed a lawsuit against Polymarket, CEO Shayne Coplan, and marketing director Matthew Modabber. The allegation is that the company targeted deceptive advertising at college students, persuading them to make trades while concealing the likelihood of financial losses.
