Influencers Faked Winning Bets on Polymarket

Some influencers made fake videos about winning bets on Polymarket. They posted these videos on TikTok.

The Wall Street Journal found out that Polymarket paid influencers to make fake ads. These ads made it seem like they won big, but they didn't.

The Journal looked at over 1,000 TikTok videos from 10 influencers. They also talked to some influencers who were paid to promote Polymarket. Many of these videos showed fake wins or the wrong platform.

Influencers told their followers they won around $900,000, but they would have actually lost $166,000. Polymarket paid people to help make these fake ads go viral.

After the investigation, Polymarket said they would look into their advertising.

Polymarket told CBS News they want to be fair and honest. They are checking all their ads to make sure they follow the rules.

Companies like Polymarket are trying to get more people to use their platforms. They are using famous people like Timothée Chalamet to advertise.

This is about social issues.

COPYRIGHT DISCLAIMERS

4English does not own the rights to this content. All rights belong to the owner. 4English only uses this content to help users learn English via the app's features. Contact to request the removal of your content: contact@4englishapp.com.

Practice Listening