Polymarket is betting big on a marketing blitz to win back trust in the United States. The prediction market platform has enlisted social media influencers for viral campaigns on TikTok and other platforms, and signed partnership deals with major sports teams, Major League Baseball (MLB), as well as news outlets including CNBC and CNN, according to the Associated Press.
Head of US Operations: International volume masks local progress
Dan Lee, head of Polymarket's U.S. operations, told the AP that the heavy international volume often obscures the strides made domestically. “I think having the international business being the bulk of the volume, it often sort of masks the progress we are making here in the U.S. to broaden Polymarket’s acceptance,” Lee said. The company’s X account now boasts 1.7 million followers, dwarfing rival Kalshi’s 431,400—a CFTC-supervised platform since 2020.
WSJ probe: Paid influencer content lacked disclosure
The push comes after a Wall Street Journal investigation last month alleged Polymarket used paid influencers to promote simulated trades and winnings without adequate sponsorship disclosures. The company told the WSJ it was “committed to maintaining accurate, fair, and transparent markets.”
Backdrop: $1.4M CFTC settlement and 2024 raid
Four years ago, Polymarket agreed to stop serving U.S. customers as part of a $1.4 million settlement with the CFTC, which claimed the platform offered unregistered event-based derivatives. In late 2024, federal law enforcement raided CEO Shayne Coplan’s home, probing whether the platform continued serving U.S. users despite the ban. CoinDesk confirmed at the time that U.S. residents could still trade. Both the CFTC and U.S. prosecutors dropped the investigation seven months later after a change in presidential administration, with no charges filed.
Mobile app under CFTC oversight launched in December
Polymarket’s U.S. rehabilitation began in December with a mobile app offering real-money sports betting under CFTC oversight. The company did not immediately respond to CoinDesk’s request for comment.