National consumer advocates sue Polymarket over fake bets and secret influencer ads
The National Association of Consumer Advocates sued prediction market platform Polymarket on Friday in the Superior Court of the District of Columbia, alleging the company used flagrantly deceptive social media practices to lure young people into wagering. The lawsuit claims Polymarket staged fake bets and paid for secret advertisements and undisclosed influencer endorsements in deliberately secretive marketing campaigns. The suit targets Polymarket's advertising practices rather than its trading operations or regulatory status. The filing by an association of attorneys and consumer advocates follows earlier individual litigation and references event contracts listed on CFTC-registered entities, claiming content creators routinely portrayed prediction markets in ways that misled users.
The National Association of Consumer Advocates sued Polymarket in D.C. Superior Court on Friday, adding an organized bar body to the existing individual plaintiff filings.
Polymarket now faces parallel litigation from individual plaintiffs and organized consumer advocates over its marketing practices.
Consumer litigation against Polymarket has now expanded to include both individual plaintiffs and the National Association of Consumer Advocates, joining the bipartisan Senate demands for CFTC investigation already in motion.