WSJ: Polymarket Accused of Illegally Marketing to U.S. Users Through False Trading and Faked Profit Videos

BlockBeats News, June 21st, The Wall Street Journal investigation found that a large number of "user instantly earns" videos circulating on social media are not authentic on the prediction market platform Polymarket. Some content is created by paid creators, attracting user attention and participation in the prediction market through methods such as forging profit screenshots and exaggerating trading records.

The report states that this type of content has been widely spread on platforms such as TikTok, Instagram, and YouTube, creating the impression that ordinary users can easily earn huge profits by betting on politics, sports, and hot events. However, the actual situation is significantly different from the publicity. The investigation shows that most users did not receive substantial profits, and some popular cases are even entirely fabricated.

Through simulated trading demonstrations and forged profit videos, Polymarket deliberately promotes to American users. At the same time, the platform also hires the marketing company "Virality" to manage influencer promotion activities, with the activities explicitly targeting American users.

Previously, Polymarket circumvented regulatory restrictions by not providing services to American users. If the above report is true, it may indicate that it has long been operating in a legal gray area in the United States.