U.S. Senators Urge CFTC Investigation into Polymarket's 'Deceptive Marketing' Allegations

Two U.S. Senators, Republican John Curtis and Democrat Adam Schiff, have requested the Commodity Futures Trading Commission (CFTC) to investigate Polymarket's alleged deceptive marketing practices and seek written responses. The lawmakers criticized Polymarket's advertising methods and regulatory enforcement capabilities, citing reports that the platform paid influencers to create fabricated trading videos appearing on social media. The senators expressed concern over these claims and called for immediate CFTC review. This follows a Wall Street Journal report revealing that over 70% of reviewed videos contained fake bets, totaling nearly $2 million, with many creators failing to disclose payments from Polymarket. Polymarket confirmed ongoing comprehensive audits of its marketing content but has not commented on the senators' letter or CFTC investigation.