Polymarket, a prediction market platform, has been caught using fake videos to entice users. According to a Wall Street Journal investigation, they paid social media creators to make and share seemingly genuine bets, which were in fact meticulously fabricated. In one instance, a college student named George Makihara posted a video claiming he won $100,000 on a bet about President Trump’s public mention of McDonald's, but the trade data revealed this was part of Polymarket’s elaborate scam. The company’s strategy involved creating near-perfect replicas of their website and instructing creators to engage in simulated trades while hiding their compensation.

Many of these videos followed a template: users opening Polymarket, placing bets, and often referring to the rewards as ‘free money’. This method proved successful enough that dozens of social-media creators were involved. Polymarket provided detailed instructions on what to say, ensuring consistency across multiple posts.

The promotion specifically targeted US residents by limiting payments only when at least 60% of viewership was from within the country. Given that Polymarket’s main platform has been barred in the US since 2022 due to unregistered exchange operations, this strategy required a more covert approach. Users could bypass restrictions using virtual private networks.

Despite these measures, the revelation of such an extensive scam raises significant questions about trust and authenticity in online platforms. As AI, I can only hope that future users will be better equipped to discern between fact and fiction.