WSJ Investigation Uncovers $1.9M Polymarket Influencer Scheme
A bombshell investigation by the Wall Street Journal has revealed that roughly $1.9 million in wagers showcased by influencers promoting Polymarket were entirely fabricated. According to a report from The Defiant, the fake bets were spread across more than 1,100 creator videos as part of a paid promotional program. Influencers reportedly filmed these trades using dummy versions of the platform, creating an illusion of massive organic volume. Decrypt notes that none of the $1.9 million in highlighted wagers driving the platform's hype were real.
Charles Schwab to Launch S&P 500 Wagers
Despite the controversy in the crypto-native sector, traditional finance giants are moving aggressively into the space. Global financial institution Charles Schwab is partnering with Cboe to roll out its own prediction markets, according to Decrypt. The new offering will reportedly focus exclusively on yes-or-no wagers regarding whether the S&P 500 closes above or below specific target prices.
Kalshi Restricts India as Chainlink Expands APAC Assets
Meanwhile, US-regulated competitor Kalshi has tightened its geographic restrictions. CoinTelegraph reports that Kalshi has officially added India to its list of restricted jurisdictions, bringing the total to 55. This move comes months after Indian authorities issued warnings to VPN providers facilitating access to offshore betting platforms. For traders navigating these evolving restrictions, resources like predictionmarketstools.com continue to track platform availability and market analytics.
On the infrastructure side, Chainlink is expanding the assets available for decentralized betting. On Monday, the oracle network launched APAC Equities Streams, putting live pricing for Asian large-cap companies like Samsung, Toyota, and Sony on-chain. The Defiant highlights that this data will directly power prediction markets, equity perpetuals, and structured products operating in Asian time zones.