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 started a campaign to persuade policymakers, regulators and potential users that it is trustworthy, Associated Press reported on Wednesday.
According to AP, Polymarket is working with social media influencers to produce viral marketing on TikTok and other platforms and has signed partnership agreements with major sports teams and Major League Baseball as well as news outlets including CNBC and CNN.
The steps Polymarket is taking in the U.S. will help legitimize it despite the issues it has faced in the past, Dan Lee, head of U.S. operations, said in an interview with AP on Wednesday.
“I think having the international business being the bulk of the volume, it often sort of masks the progress we are making here in the U.S. to broaden Polymarket’s 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 been operating under the supervision of the Commodity Futures Trading Commission (CFTC) since 2020, has 431,400.