Prediction markets reached another milestone as open interest climbed to $1.48 billion in the week ending June 15, a16z Crypto said. The figure marked another all-time high.
Record Open Interest Extends
Open interest differs from volume because it measures unsettled positions active in the market. It shows capital still at risk, not daily turnover. A16z Crypto data showed open interest has increased sixfold over the past year.
Activity spans politics, macroeconomic events, culture, cryptocurrency, and other categories. Major events still attract attention, but activity extends beyond headline-driven trading.
WSJ Report Raises Marketing Questions
The Wall Street Journal reported that Polymarket paid social media creators to publish fake trading and profit videos promoting the platform. According to the report, some creators used nearly identical versions of Polymarket’s website and recorded fictitious wagers.
The Journal said several videos presented profits that did not occur. Some clips were allegedly sent back for review. Creators said Polymarket requested retakes when videos appeared dull or staged.
Creators also told the Journal they were instructed not to disclose that they were paid. Payments often ranged from $2,000 to $3,000 per month. Many videos showed a creator opening Polymarket, placing a bet, and calling the result “free money.”
The Journal also reported that Polymarket hired Virality to manage influencer campaigns. Social media accounts reposted the videos.
The campaign allegedly targeted American users, even though Polymarket has been barred from operating its main crypto platform in the United States since 2022. The Journal also reported that Polymarket signed a multimillion-dollar deal with Adin Ross.
Polymarket said it is “committed to maintaining accurate, fair, and transparent markets. We are part of a rapidly growing industry and are constantly evaluating ways to improve how we’re engaging and earning the trust of our audience.” The company also said it would review promotional content.
Podcast Push Targets Culture
Polymarket has expanded its media strategy through Dear Media. The companies launched “What Are the Odds?”, its first podcast, as a weekly audio and video show mixing pop culture coverage with live market data.
The show moves the brand toward celebrity news, film releases, and award coverage. Polymarket’s user base remains concentrated in several categories. Sports betting accounts for about 39% of trading volume, while crypto represents about 20%, and politics accounts for another 32%.
That leaves 9% for other topics. The podcast is designed to broaden that share through market pricing.
“Our partnership with Dear Media marks a new chapter in how prediction markets capture the pulse of culture around the world,” said Josh Tucker, Polymarket’s head of creative marketing. Episodes are released on YouTube, Spotify, and Apple Podcasts.
