Polymarket, an online prediction market, has engaged with American influencers to promote election betting, even as federal regulations prohibit U.S. users from placing bets on the platform.
According to a report from Bloomberg, Polymarket reached out to various U.S.-based social media personalities to raise awareness about its betting offerings, disregarding local restrictions. Messages obtained by Bloomberg indicate that Armand Saramout, Polymarket’s senior director of growth, initiated contact with several influencers in September. Notable figures like Mr. Moist, with 5.5 million followers, HoodClips, boasting 12 million followers, and finance influencer Eric Pan, who has 203,000 followers, have all featured sponsored posts for Polymarket, incorporating themed hashtags.
Xavi Fahard, who oversees an Instagram account with over 16 million followers, confirmed entering into a multi-post agreement with Polymarket. He remarked to Bloomberg that the performance of these ads was on par with other sponsored content.
A representative for Polymarket acknowledged the company’s outreach to the U.S. market but clarified that the intent was to promote its data and attract visitors to polymarket.com, where “99% of visitors consume news and never place a trade.”
The spotlight on Polymarket’s marketing tactics intensified following revelations by The New York Times regarding a single trader with a financial services background who placed around $28 million in Trump-related bets across four accounts. In response to concerns about market manipulation, Polymarket has maintained that the trader’s activities were based on personal opinions rather than efforts to distort the market.
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