Polymarket runs election betting ads via influencers despite US trading ban: report
Polymarket has partnered with US-based influencers to promote election betting despite a federal ban on American users placing bets on the platform.
Polymarket has contacted U.S.-based social media influencers to promote election betting, despite local restrictions, Bloomberg has learned, citing messages seen by the outlet.
Per the report, Polymarket’s senior director of growth Armand Saramout approached several U.S. influencers in September to drive awareness. Instagram accounts like Mr Moist (5.5 million followers), HoodClips (12 million followers), and finance-focused Eric Pan (203,000 followers) have since run Polymarket-sponsored posts with thematic tags.
Xavi Fahard, who manages an Instagram account with over 16 million followers, confirmed a multi-post deal with Polymarket. In a commentary to Bloomberg, Fahard noted that the ads performed comparably to other sponsored content.
Polymarket in spotlight over $28m Trump bet by one trader
A spokesperson for Polymarket confirmed to Bloomberg that the trading platform has targeted the U.S. market. However, the spokesperson noted that the company “reached out to influencers on both sides of the aisle to promote our data and drive traffic and eyeballs to polymarket.com, where 99% of visitors consume news and never place a trade.”
Scrutiny around Polymarket’s U.S. outreach intensified after The New York Times revealed that a single trader with a financial services background placed approximately $28 million in Trump-related bets across four accounts. The betting platform denied any market manipulation, reassuring that the trader’s bets reflected personal views rather than an attempt to manipulate the market.
