- Feb 28, 2019
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According to an analysis of more than 1,100 videos by the Wall Street Journal, along with instructional materials and interviews with creators who have worked with the company, Polymarket is paying creators to make deceptive videos about winning bets, targeting users in the US, where its primary crypto platform is banned.
"Makihara, who declined to comment, is one of dozens of mostly college-age creators Polymarket paid to film themselves making fake trades and sometimes scoring fake wins. In its push to draw users to its unregulated platform, Polymarket has flooded social media with videos like Makihara’s, which appear genuine at first glance. In reality, Polymarket built clones of its website, then instructed creators to make simulated trades on those clone sites and hide that they were being paid by Polymarket."
Easy money is a psychological trap. There will be a more such get rich quick schemes in the future. Unfortunately, many people blindly trust social media content and continue to lose money in such schemes.
"Makihara, who declined to comment, is one of dozens of mostly college-age creators Polymarket paid to film themselves making fake trades and sometimes scoring fake wins. In its push to draw users to its unregulated platform, Polymarket has flooded social media with videos like Makihara’s, which appear genuine at first glance. In reality, Polymarket built clones of its website, then instructed creators to make simulated trades on those clone sites and hide that they were being paid by Polymarket."
Easy money is a psychological trap. There will be a more such get rich quick schemes in the future. Unfortunately, many people blindly trust social media content and continue to lose money in such schemes.
