- The predictions of Polymarket are so precise with major prominence that in the current times, various media companies keep an eye on Polymarket data along with traditional polling data.
- At present, there are more than $2.7 billion in total bets over the platform only in the United States alone.
- Polymarket has not accepted any accusations related to market manipulation.
The world’s largest prediction market, Polymarket has approached social media influencers from the United States. This step has been made to give publicity to election betting regardless of some local restrictions. Bloomberg has reported and quoted the messages seen by the media company.
The outlet has further reported that the senior director of growth at Polymarket Armand Saramout was in touch with various social media influencers based in the United States in September with the motive of powering awareness.
Some of the contacted influencers are Mr Moist having 5.5 million followers, HoodClips having 12 million followers, and Eric Pan having around 2 lakh followers. They all are currently running a Polymarket-sponsored post including thematic tags.
It is also reported that Xavi Fahard who is responsible for managing an Instagram account having 16 million followers has sealed the deal with the world’s largest prediction market. Fahard has made comments on the writings of Bloomberg and commented on the advertisements that have been carried out relatively to other sponsored content.
A spokesman for the platform has confirmed to Bloomberg that the target market of the platform is the United States. At the same time, he commented that the platform contacted various influencers for both parties of the U.S. to give promotion to the platform’s data and increase traffic. Another aim was to drive attention to polymarket.com, where the majority of users only come to read the news and never buy or sell the financial instrument.
The careful examination of the platform was increased after a notable media outlet, the New York Times reported that a sole trader having a financial services background put his money into Trump-related bets over four accounts estimated to be about $28 million.
Polymarket has not accepted any accusations related to market manipulation, it has also given reassurance that the bet of the mentioned trader is his personal choice instead of an effort to manipulate the market.
Platform’s precise predictions
The track record of this platform consists of precisely giving a prediction over the withdrawal of Joe Biden from the race of election. Also, it has predicted the selection of Tim Walz as a running mate of Kamala Harris.
The predictions are so precise with major prominence that in the current times, various media companies keep an eye on Polymarket data along with traditional polling data. The platform was launched in 2020 and now it has grown remarkably in market participation.
At present, there are more than $2.7 billion in total bets over the platform only in the United States alone. Adding more to this, the platform has so far raised funding of about $70 million from two funding rounds, mainly gaining investments from the co-founder of Ethereum, Vitalik Buterin.
