Polymarket pays American KOLs to promote election prediction services

ChainCatcher news, according to Bloomberg, the prediction platform Polymarket has been paying American social media KOLs to promote its election prediction business. However, the platform is actually prohibited from offering this service to U.S. users, including presidential election prediction betting. In September, Polymarket's Senior Growth Director Armand Saramout sought sponsorship agreements with influential figures in the U.S.

In recent weeks, several Instagram accounts with large followings have posted Polymarket sponsored content featuring the hashtags #PMPartner and #PolymarketPartner. A spokesperson for Polymarket confirmed the promotion to U.S. influencers but stated that the purpose was not to stimulate trading from U.S. visitors, but to bring traffic and attention to their website.

An anonymous user operating the U.S. Instagram account @trustfundterry stated that he has been collaborating with Polymarket for years. The company frequently shares a Google Drive containing suggested content with him, which he regularly posts in exchange for payment. He mentioned that Polymarket never told him that the content should target non-U.S. audiences, nor did they ask him to mention that trading should not occur in the U.S. There are few such disclaimers in the sponsored content posts published by other accounts.