WSJ: Polymarket suspected of marketing to US users in violation of regulations through fake transactions and fabricated profit videos

BlockBeats news, on June 21, The Wall Street Journal investigation found that a large number of "users making huge profits" videos circulating on social media about prediction market platform Polymarket are not real. Some of this content is produced by paid creators, who attract user attention and participation in the prediction market by forging profit screenshots and exaggerating trading records.

According to the report, such content has been widely disseminated on TikTok, Instagram, and YouTube, creating the impression that ordinary users can easily make huge profits by betting on political, sports, and trending events. However, there is a significant discrepancy between the real situation and the promotion. The investigation showed that most users did not gain substantial profits, and some popular cases were even completely fabricated.

Polymarket promoted to U.S. users through simulated trading demonstrations and forged profit videos. At the same time, the platform also hired the marketing company "Virality" to specifically manage influencer promotion campaigns, with related activities reportedly targeting U.S. users as the main group.

Previously, Polymarket avoided regulatory restrictions by not providing services to U.S. users. If these reports are true, it may mean the platform has long operated in a legal grey area in the U.S.