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Polymarket launches U.S. marketing push to regain trust after CFTC ban
Polymarket began its U.S. return in December with a CFTC-supervised mobile app for real-money sports event betting.
Polymarket is stepping up its U.S. marketing and legitimacy efforts as it returns after a multi-year ban, according to CoinDesk and reporting cited from the Associated Press.
The plan includes influencer-driven promotion on platforms such as TikTok, along with partnerships with major sports teams and Major League Baseball, plus news outlets including CNBC and CNN, the AP said. Polymarket also began its U.S. rehabilitation in December with a CFTC-supervised mobile app that allows users to place real-money bets on sports events.
The company is also targeting policymakers, regulators, and potential users to demonstrate it can be trusted, Dan Lee, head of U.S. operations, said in an interview with the AP. Lee said the company’s international business volume can mask progress in the U.S., implying the marketing is meant to accelerate acceptance.
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. CoinDesk also noted that four years ago Polymarket agreed to stop serving U.S. customers as part of a $1.4 million settlement with the CFTC over claims it offered unregistered event-based derivatives.