Polymarket's viral videos showed people winning big, but the bets were fake

Polymarket paid social media influencers to create videos depicting fake betting wins as part of a promotional campaign, according to a Wall Street Journal investigation published on Saturday. The goal of this campaign was to attract users to Polymarket's prediction market by suggesting users could easily achieve significant financial gains. The investigation revealed that Polymarket constructed near-identical replicas of its website for creators to use, instructing them to simulate trades on these dummy sites and conceal their paid partnership with Polymarket. One influencer, college student George Makihara, posted a video in January showcasing a simulated win of $100,000 on a bet related to former President Trump saying the word 'McDonald's' that month. However, trade data reviewed by the Journal indicated no actual user won such a bet in January. Makihara reportedly made 145 simulated bets on Polymarket between January and May, all of which were fabricated for the promotion.