WSJ investigation finds Polymarket viral videos featured $1.9 million in fake bets
By
Jon Brodkin
Summary
Polymarket, a prediction market platform, is seeking CFTC approval to bring its main exchange back to the US while offering a limited regulated version through a mobile app. However, a Wall Street Journal investigation found that viral videos promoting Polymarket featured fake bets totaling $1.9 million across 1,105 videos made by 10 creators. The videos showed creators reacting to outdated footage or fake headlines, misleading viewers about winning bets that were actually placed on a cloned website and would have lost money.
Source
Hacker NewsWSJ investigation finds Polymarket viral videos featured $1.9 million in fake betsarstechnica.comKey quotes
· 3 pulledThe Journal said it reviewed 1,105 videos made by 10 creators and identified fake bets totaling $1.9 million.
While most of the videos were of fake bets being placed, there were 118 videos of 'creators reacting to outdated footage or fake headlines'
Polymarket is seeking the CFTC's permission to bring its main exchange back to the US, but also offers a more limited, US-regulated version of its trading service through a mobile app.
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