Key facts
- Polymarket paid high-profile influencers hundreds of thousands of dollars to promote its prediction market.
- Influencers did not disclose that they were being paid by Polymarket.
- Polymarket CMO Matthew Modabber used a personal PayPal account for these payments.
- At least 20 identified content creators promoted Polymarket on social media after receiving money.
- These influencers posted about Polymarket at least 490 times on X without clear disclosure.
- Polymarket has seen trading volumes skyrocket since President Donald Trump's reelection in 2024.
Polymarket, a prediction market platform, has been engaging in a campaign to generate buzz by paying high-profile influencers hundreds of thousands of dollars to promote its services. These influencers, including figures like Nick Shirley, Alex LoRusso, Brian Krassenstein, and Riley Gaines, allegedly failed to disclose their paid partnerships when posting about Polymarket on social media platforms like X. Polymarket's Chief Marketing Officer, Matthew Modabber, reportedly used a personal PayPal account to send at least $350,000 to influencers between January 2025 and February 2026, with total transactions exceeding $2.5 million to over 800 individuals during a 14-month period. POLITICO verified the identities of about two dozen creators who received payments and subsequently promoted Polymarket, often without clear disclosures, in at least 490 posts. The company claims these partnerships are standard business practices aimed at providing accurate market insights. Polymarket, which operates largely outside the US after being banned by Wall Street regulators in 2022, has experienced a surge in trading volumes, particularly since Donald Trump's reelection in 2024. The platform allows users to bet on various events, including elections. The Trump administration has faced pressure regarding prediction markets like Polymarket and its competitor Kalshi due to insider trading concerns, though the President has adopted a lenient approach, even attacking state-level regulators seeking to impose rules. Polymarket's strategy of leveraging influencers aims to increase its public profile, with posts often framing the platform as an authoritative source without revealing the sponsored nature of the content. Experts note that influencers have a responsibility to disclose material connections, as per FTC guidelines, though the application to prediction markets is unclear. Kalshi also engages in similar influencer partnerships.