Key facts
- Polymarket is launching a U.S. comeback campaign with influencer-driven marketing and partnerships with sports teams and news outlets.
- The platform began its U.S. return in December with a CFTC-supervised mobile app for betting on sports events.
- Polymarket aims to persuade policymakers, regulators, and users of its trustworthiness after a four-year ban and federal settlement.
- The company is investigating reports of deceptive marketing strategies and undisclosed influencer partnerships.
Polymarket is launching a significant marketing and social media campaign in the U.S. as it seeks to rebuild trust and re-establish its presence after a four-year ban. The platform, which settled federal charges for offering unregistered event-based derivatives, began its U.S. rehabilitation in December with a CFTC-supervised mobile app focused on sports betting.
The new campaign involves partnerships with social media influencers to create viral content on platforms like TikTok, as well as agreements with major sports teams and news organizations including Major League Baseball, CNBC, and CNN. Dan Lee, head of U.S. operations, stated that these efforts aim to legitimize the platform and broaden its acceptance.
Polymarket's strategy comes amid scrutiny, including reports of deceptive marketing practices and undisclosed influencer partnerships, which the company says it is investigating. The company previously agreed to a $1.4 million settlement with the CFTC and faced federal investigations into whether it continued serving U.S. users despite the agreement. The U.S. rehabilitation started with a new mobile app operating under CFTC oversight, distinct from its international, crypto-funded platform.