The real first Pepe appeared in 1988 on Argentine TV in the children’s show of Carlitos Balá, as El Sapo Pepe.
Decades later, Matt Furie would present his own frog, sharing the same name
PEPE was born
So you’re telling me Polymarket
according to the Wall Street Journal investigation
- reviewed 1,105 promotional videos
- generated more than 140M views
- paid creators $2,000–$3,000 per month
- showed $1.9M worth of bets on screen
what allegedly happened
- many of the bets were never actually placed
- creators used demo environments instead of the real platform
- some videos were recorded on a fake lookalike site
“poiymarketcom”
fake results
- 118 videos showed profits that allegedly never existed
- $900,000 in winnings were displayed
one creator appeared to win $100,000
according to WSJ the trade wasn’t real
the problem
- real users copied some of these trades
- those same positions would’ve lost more than $166,000
- while the videos showed massive gains
additional allegations
- creators were allegedly encouraged to make content more exciting
- clips were amplified through networks of repost accounts
- campaigns reportedly focused on US audiences
- despite Polymarket restricting US users
Polymarket’s response
- denies wrongdoing
- says markets remain accurate, fair and transparent
- announced a full audit of promotional content