The Wall Street Journal reviewed 1,105 videos and also provided guidance to creators in preparing their posts.
If you need another reason to be wary of videos showing people winning big on Polymarket, check one out wall street journal has found that the company is paying social media creators to post misleading content promoting prediction markets. Of the 1,105 TikTok videos the publication reviewed, 778 showed someone placing bets – but a closer look reportedly revealed that none of these contained the actual Polymarket website, instead using dummy sites made to look like the real thing.
More than half of the videos that appeared to show winning bets may actually have been losing bets, wall street journal Report. The publication spoke to creators who worked with Polymarket and looked at the materials they say they were given to ensure their videos were credible and engaging. Additionally, Polymarket also allegedly employed a “social-media army” to repost these videos and help them go viral.
PolyMarkets has been making headlines this year as governments grapple with how to regulate prediction markets. Minnesota last month became the first US state to ban them. Other states have tried to do the same, but several lawsuits have challenged these efforts. Meanwhile, Spain blocked Polymarket and another prediction market, Kalshi, in May as it explored whether they violated the country’s gambling law.
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