Polymarket is accused of using fake betting wins and undisclosed influencer promotions to attract US users, despite restrictions, according to a Wall Street Journal (WSJ) investigation.
The report says the crypto prediction market paid social media creators to post videos showing almost $900,000 in fake winnings, often using imitation versions of the platform.
WSJ also found that many of these videos targeted US audiences, even though Polymarket’s international exchange is not legally available to Americans without a VPN.
These allegations challenge Polymarket’s public image. The platform is known for transparency, with prediction markets where trades are recorded on-chain and outcomes can be checked independently.
But the WSJ investigation suggests that much of the viral marketing content was based on simulated bets and staged wins, not real trading.
The report says over 1,100 videos were reviewed, and none of the $1.9 million in bets shown appeared to be real. Many creators made videos on websites that looked like Polymarket’s official platform.
In some cases, videos showed profitable trades that would have actually lost money on the real market. The investigation found creators celebrated about $900,000 in fake winnings, while those same bets would have lost more than $166,000 if placed on the live platform.
The regulatory issues are serious. Polymarket has been banned from serving US customers since a 2022 settlement with the Commodity Futures Trading Commission (CFTC).
Still, WSJ reported that a marketing agency working with Polymarket paid creators based on how much of their audience was in the US. The campaign got over 140 million views on TikTok, Instagram, and YouTube.
The report also questioned disclosure practices. Many creators reportedly did not reveal they were paid to promote the platform. Some only added partnership disclosures after reporters reached out.
WSJ also said that Polymarket-sponsored content included talk about profiting from inside information, though the company says it bans trading on confidential or stolen data.
Many in the crypto world find the controversy striking because Polymarket’s main message is about verifiable information and transparent markets. The investigation suggests the marketing strategy did the opposite, using staged trades as real success stories to bring in new users.
The timing is especially bad for Polymarket. The company has been trying to expand its regulated presence in the US and compete with rival platform Kalshi. More regulatory scrutiny from the WSJ findings could make those goals harder to reach.
Polymarket responded to the investigation by saying it is committed to keeping its markets accurate, fair, and transparent. The company plans to audit its promotional content, and both regulators and industry participants will likely watch the results closely.
For now, this episode is a reminder not to take viral videos of big crypto wins at face value. As people in the blockchain industry often say, trust is important, but verification matters even more.
The Wall Street Journal investigated Polymarket’s deceptive marketing campaign. Here’s what we found. https://t.co/fuDLi3dDyi
— WSJ Business News (@WSJbusiness) June 22, 2026
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