Polymarket, which began its return to the U.S. after a four-year ban with the acquisition of QCEX a year ago and the introduction of a mobile trading app in December, has begun a campaign to persuade policymakers, regulators and potential users that it is trustworthy, the Associated Press reported Wednesday.
According to the AP, Polymarket is working 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.
The steps Polymarket is taking in the United States will help legitimize it despite the problems it has faced in the past, Dan Lee, head of its U.S. operations, said in an interview with the AP on Wednesday.
“I think the fact that international business accounts for the majority of volume often masks the progress we are making here in the U.S. to expand Polymarket acceptance,” Lee said.
The company’s X account now has 1.7 million followers and posts about current events 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.
