Polymarket is facing criticism on X after a photo of its fortune-cookie advertisement attracted more than 500,000 views.
Jared Holt shared the photo on October 24, showing a purple promotional slip beside an opened fortune cookie. The slip featured Polymarket’s name, logo and a partly covered QR code, along with the message, “Yes, we paid for a fortune cookie ad.”
Holt criticized the advertisement in his post, while another account, Maths Cat, responded by saying, “I hope you file for bankruptcy.”
The photo attracted significant attention, but neither post identified the restaurant, cookie supplier or location where the advertisement appeared. The QR code was also partly hidden, so its destination could not be confirmed. Details about the campaign’s cost, distribution and duration remain unknown.
Fortune-cookie advertising is not new. OpenFortune has used the format to promote brands, although its involvement in Polymarket’s campaign has not been confirmed. Advertisements are typically printed on the reverse side of the paper inside the cookie. In July 2022, The Wall Street Journal reported that FTX had used fortune-cookie advertisements through OpenFortune.
Polymarket has also promoted its platform through sports partnerships and paid creators. In September, a video featuring LeBron James teased a potential partnership focused initially on American football. However, the available reporting did not establish the agreement’s payment terms or duration.
The company has faced earlier scrutiny over influencer promotions. A June report by Politico alleged that Polymarket paid social media creators at least $350,000 over 14 months. The investigation identified hundreds of posts mentioning the platform without clearly disclosing that they were paid promotions. A company spokesperson said creator collaborations were part of its normal business activities but declined to discuss the specific disclosure practices.
New York City officials have also examined marketing practices across the prediction-market industry. In August, City Council Speaker Julie Menin’s office sought information from Polymarket, Kalshi, Coinbase and Gemini Titan about promotions involving sports, politics and other events.
The inquiry raised questions about whether existing consumer protections adequately address prediction-market advertising and whether additional rules or policy changes may be needed.