Polymarket, a prediction market, has been accused of creating fake winning bet videos to lure users to its platform. According to a Wall Street Journal investigation, the company paid dozens of social media users to film themselves making fake bets on cloned websites.
The videos, which appeared genuine at first glance, were part of a promotion aimed at convincing people they could strike it rich on the platform. However, trade data showed that the bets were simulated and would have lost money.
One college student, George Makihara, posted a video in January that showed him winning $100,000 on a wager, but the Journal found that no one on Polymarket won such a bet in January. This was one of 145 fake bets Makihara appeared to place on the platform between January and May.
