Leading prediction market Polymarket is launching a marketing campaign in the U.S. as it re-enters America after a four-year ban.
Polymarket began its return to the U.S. with the acquisition of QCEX a year ago and the introduction of a mobile trading app last December.
Now, the privately held prediction market has started a campaign to persuade policymakers, regulators, and users that it is a trustworthy organization.
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Prediction markets allow people to bet on the outcome of real-world events such as elections, sports contests, and even the weather.
According to media reports, Polymarket is working with social media influencers to produce viral marketing on TikTok and other platforms.
The company has also signed partnership agreements with major sports teams and Major League Baseball (MLB), as well as news outlets CNBC and CNN.
The marketing campaign also comes after The Wall Street Journal published an article alleging that Polymarket used paid influencers to promote fake trades and winnings on social media.
Four years ago, Polymarket was banned from the U.S. as part of a $1.4 million U.S. settlement with regulators, who alleged it had offered unregistered derivatives trading.
In 2024, federal law enforcement raided Polymarket CEO Shayne Coplan’s home as part of an investigation into whether the platform continued serving U.S. customers despite the ban.
Polymarket last December returned to the U.S. with a mobile app that offers new ways to bet on sports events under regulatory oversight.
As a privately held business, Polymarket’s stock does not trade on a public exchange.