Polymarket, the New York-founded cryptocurrency prediction market, orchestrated a large-scale influencer campaign in which social media creators were paid to film themselves making simulated trades on replica websites designed to mimic the real platform, according to a Wall Street Journal investigation. The scheme, which generated more than 140 million views across TikTok, YouTube, and Instagram, involved dozens of mostly college-age creators who were instructed to conceal their financial relationship with the company.
The analysis of more than 1,100 videos posted by ten TikTok creators identified by Polymarket’s marketing partners found that in 778 videos where creators appeared to place bets, all of them were using counterfeit versions of the platform. Polymarket built near-identical copies of its website — including one registered under the domain “poiymarket” — and directed creators to record trades on those dummy environments. The fake site was taken down after the Journal contacted the company for comment.
Among the creators identified was George Makihara, a college student whose videos showed him apparently winning $100,000 on a bet that President Trump would say the word “McDonald’s” in January. Public data from Polymarket’s actual platform showed that more than 50 real accounts placed that same bet during that period — and all of them lost. Makihara, who declined to comment, appeared to have placed 145 bets totaling nearly $410,000 across his videos between January and mid-May. None were real.
Creators reported receiving between $2,000 and $3,000 per month, with Polymarket reviewing footage before publication and requesting reshoots if videos were insufficiently engaging or showed obvious signs of fabrication. In at least 128 of the 149 videos that cited news coverage to suggest a betting outcome, the Journal found that the supporting media had been presented in a false context, including altered articles. At least 69 bets depicted as wins would have been losses had they been placed on the actual platform.
Beyond the creators themselves, Polymarket employed a marketing contractor called Virality to manage a secondary layer of the campaign: a network of “clippers” paid to re-post and amplify creator content across platforms. Internal instructional materials reviewed by the Journal showed that as of early June, Virality only compensated clippers if at least 60% of their audience was based in the United States — a notable detail given that Polymarket has been barred from offering its primary crypto-based exchange to U.S. customers since a 2022 settlement with regulators.
Virality instructed its clippers to ensure their posts appeared “personal and organic,” and discouraged any overt association with the brand. In messages from a group chat involving nearly 20,000 exchanges, a Virality employee told participants to remove the word “Polymarket” — or even “poly” — from their account names to avoid violating campaign guidelines. Virality declined to comment.
Creators were additionally instructed not to disclose that they were being paid, and the ten core creators did not initially identify themselves as Polymarket partners in their bios. They began adding “@polymarket partner” designations only after the Journal began making inquiries. Razeen Khan, a California-based college student who worked as a creator until March, acknowledged the nature of the arrangement but defended it by comparing the videos to fast-food advertising. “We’re depicting what actually happens,” he said.
The campaign carries potential legal exposure on multiple fronts. Federal advertising law requires paid endorsers to disclose their relationships with brands. Commodities law, which governs prediction markets, prohibits deceptive and manipulative practices. The Commodity Futures Trading Commission, which has jurisdiction over prediction markets, has previously brought enforcement actions against companies that used simulated trades in marketing materials. A CFTC spokeswoman responded to the Journal’s reporting by stating the importance of bringing offshore prediction markets under more effective regulatory oversight.
The FTC, which enforces advertising standards, declined to comment on the Journal’s findings, citing its policy of not discussing potential investigations. Representatives for TikTok said a number of the flagged accounts had already been restricted for policy violations. YouTube and Meta issued statements noting that creators are required to disclose paid promotional relationships.
Polymarket said in a statement that it is “committed to maintaining accurate, fair, and transparent markets” and announced plans to conduct a comprehensive audit of active promotional content.
The marketing push coincides with intensifying competition from Kalshi, a U.S.-regulated rival that has recently pulled ahead in trading volume. According to data provider The Block, Kalshi logged roughly double Polymarket’s trading volume last month. Polymarket is simultaneously seeking to reverse the 2022 settlement that excluded its crypto platform from the U.S. market, according to a person familiar with the matter — a regulatory campaign that unfolds against a political backdrop in which President Trump has publicly called for exclusive federal oversight of prediction markets.
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