Polymarket, which began its comeback in the United States after a four-year ban with the acquisition of QCEX a year ago and the introduction of a mobile trading app in December, has launched a campaign to persuade policymakers, regulators and potential users that it is trustworthy, the Associated Press reported Wednesday.
According to AP, Polymarket works with social media influencers to produce viral marketing on TikTok and other platforms and has signed partnership deals with major sports teams and Major League Baseball as well as media outlets such as CNBC and CNN.
Polymarket’s moves in the United States will help legitimize it despite the problems it has faced in the past, Dan Lee, head of U.S. operations, said in an interview with AP on Wednesday.
“I think the fact that international business accounts for most of the volume often obscures the progress we’re making here in the United States to broaden acceptance of Polymarket,” Lee said.
The company’s X account now has 1.7 million followers and posts news articles several times a day. Rival platform Kalshi, which has operated under the supervision of the Commodity Futures Trading Commission (CFTC) since 2020, has 431,400.
