WSJ Investigation Questions Polymarket’s Viral Success

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The Wall Street Journal (WSJ) says Polymarket’s rapid rise on social media was partially the result of videos showing fake winning bets rather than genuine trades placed on the blockchain. According to the newspaper’s investigation, paid creators allegedly used imitation versions of the prediction market’s website to stage large profits that never occurred. The report raises new questions about how one of crypto’s fastest-growing prediction platforms marketed itself to millions of users.

WSJ Says Creators Used Fake Polymarket Websites

According to the Wall Street Journal report on June 20, Polymarket paid a network of mostly college-age creators between around $2,000 and $3,000 per month to publish videos appearing to show lucrative bets placed on the platform.

The newspaper said it reviewed more than 1,100 videos published between December 2025 and mid-May 2026 and found that the featured trades could not be verified on-chain, despite Polymarket settling real trades using USD Coin (USDC) on the Polygon (POL) blockchain.

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Instead, the investigation alleges many videos were recorded on copycat websites designed to closely resemble the real platform. One example cited by the Journal involved a student claiming to have won $100,000 betting that President Donald Trump would publicly say “McDonald’s” during January. 

The newspaper reported Trump never said the word that month, whereas real traders who placed that wager ultimately lost money.

The report also claims that the platform encouraged creators to maximize engagement and avoid disclosures that they received payment for the content.

Report Says Fake Wins Differed From Real Trading Results

The Journal found a significant gap between the outcomes portrayed in promotional videos and actual market results.

According to the report, around 118 videos celebrated nearly $900,000 in combined profits, whereas those same positions would have produced more than $166,000 in losses if executed on the real Polymarket platform.

The newspaper added that many creators have since deleted the videos and that the imitation website from the investigation has disappeared.

The allegations come as Polymarket works to expand its presence in the United States following recent regulatory developments. According to the report, the company has said it plans to review its promotional practices in response to the findings.

Earlier this month, Polymarket found itself at the center of another controversy, in which traders clashed over Strategy’s first Bitcoin (BTC) sale since 2022, which happened between May 26 and May 31, but the company disclosed it in a June 1 filing, after the market’s cutoff window.