Polymarket, the crypto-based prediction market, struck a multimillion-dollar promotional deal with streamer Adin Ross, a partnership that the Wall Street Journal reports included at least five videos showing viewers how to trade on inside information. The arrangement is now drawing scrutiny from regulators and market observers concerned about potential insider trading.
The Deal and the Videos
Under the deal, Polymarket promoted dozens of Ross’s videos. The Journal investigation found that at least five of those clips laid out specific methods for trading on non-public information — a practice that would be illegal in traditional financial markets. Ross, who has millions of followers on platforms like Kick and Twitch, did not disclose the financial terms of the arrangement, but sources familiar described it as multimillion-dollar.
Polymarket’s platform allows users to bet on the outcomes of real-world events, from election results to sports matches. Insider trading on such bets is prohibited by the platform’s terms of service, but enforcement has been uneven.
The revelation comes at a time when prediction markets are growing in popularity but face an uncertain legal landscape. The Commodity Futures Trading Commission has signaled interest in policing these platforms for fraud and manipulation. If Polymarket is seen as actively promoting trading on inside information, it could invite tougher oversight or even enforcement action.
The company did not respond to requests for comment about the Ross deal. A spokesperson for Polymarket previously told the Journal that the platform takes compliance seriously and reviews promotional content. But the existence of the videos suggests that review process may have missed clear violations.
What’s Next for Polymarket
The CFTC has not announced any investigation into the Ross deal specifically, but the agency has been closely watching Polymarket. In 2022, the platform settled charges with the CFTC over offering event-based swaps without registration, paying a $1.4 million penalty.
For now, the company faces a reputational hit and potential legal risk. Whether regulators act on the Journal’s findings — and whether Polymarket cuts ties with Ross — will determine the immediate fallout.
