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Polymarket is accused of paying creators to film fake betting videos
Svmuu News: The crypto prediction market platform Polymarket has been accused of paying dozens of creators—mostly college-aged—to film betting videos on pages that closely resemble its website; some of these videos even show fake profits. A review of 1,105 videos posted by 10 creators since December revealed that approximately 70% of the videos contained betting content, and the roughly $1.9 million in bets shown were not actual transactions. One video posted in January showed college student George Makihara celebrating a $100,000 win after betting that Donald Trump would say “McDonald’s” that month, but the footage was alleged to have been filmed two months in advance; Trump did not publicly utter that word in January of that year, and more than 50 real accounts on Polymarket that bet on the same event all incurred losses. Some creators entered trades on test pages, including one with the misspelled domain “poiymarket.com,” which were alleged to have been built by Polymarket or used for engineering test environments. In 118 videos, creators showcased nearly $900,000 in fictitious profits, while these bets would have resulted in losses of over $166,000 based on actual outcomes. The creators were paid approximately $2,000 to $3,000 per month and were required not to disclose the partnership arrangement; Polymarket stated that it is committed to maintaining an accurate, fair, and transparent market and plans to conduct a comprehensive audit of promotional content. (Decrypt)
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