Polymarket allegedly incentivized users to create fake betting videos.

A recent investigation has revealed that Polymarket has been incentivizing individuals to create and share videos of fake betting and celebrating non-existent wins on social media. The findings uncovered over 1,100 misleading clips, with creators admitting they were compensated for producing this content, even though they didn’t disclose this in their videos.

At first glance, these social media posts appear authentic, but a closer look reveals subtle hints of their fraudulent nature. For example, one video features a visit to “poiymarket.com” instead of the correct polymarket.com. The investigation found that none of the bets showcased in the analyzed videos were genuine. In 118 of these clips, creators reacted to supposed winnings amounting to nearly $900,000, while in reality, those bets would have resulted in a loss of $166,000.

Following inquiries, many creators have removed these videos from their profiles, and Polymarket has shut down sites like “poiymarket,” which were part of the scheme.