Polymarket has drawn criticism on X after a photo of its fortune-cookie advertisement attracted more than 500,000 views.
Summary
- Polymarket’s fortune-cookie ad drew criticism after Jared Holt’s photo topped 500,000 views on X.
- The purple promotional slip features Polymarket branding, a QR code and an acknowledgment of paid advertising.
- OpenFortune has handled similar campaigns, but its involvement in Polymarket’s placement remains unconfirmed.
- Polymarket’s marketing has included sports partnerships and paid creator promotions that attracted disclosure scrutiny.
Jared Holt shared the image in an Oct. 24 post, showing a purple promotional slip held beside an opened fortune cookie.
“Yes, we paid for a fortune cookie ad.”
The slip carries Polymarket’s name, logo and a partially visible QR code. Holt expressed frustration with the advertisement in his accompanying comment.
Polymarket’s cookie ad attracts critical reactions
Holt’s post showed 501,600 views when captured in a screenshot. A separate post showed an account named Maths Cat quoting the post and directing a hostile response at the prediction-market company.
“I hope you file for bankruptcy.”
The quote-post displayed 492 views. Both screenshots show the same photograph, so they document reactions to one image rather than separate examples of the advertising placement.
Neither post identifies the restaurant, the cookie supplier, or the location where the photograph was taken. The visible portion of the slip gives no campaign dates, spending figures, or information about how many cookies carry the advertisement.
The QR code is partly obscured by the cookie, leaving its destination unverified. Polymarket’s involvement is stated on the printed advertisement, but no company announcement confirming the campaign’s distribution or commercial terms was established during the source checks.
Fortune-cookie advertising predates the Polymarket photo
OpenFortune has promoted fortune cookies as an advertising channel for consumer brands, although its involvement in the Polymarket placement remains unconfirmed.
In a published account of an interview with OpenFortune’s head of brand partnerships, Dylan Feinstein, interviewer Stuart Crowley listed Duolingo, Hulu, Capital One and MrBeast among the company’s advertisers. Crowley described a format that keeps a fortune on one side of the paper and places advertising on the reverse.
Cryptocurrency companies have used the format before. In July 2022, The Wall Street Journal documented FTX advertisements inside fortune cookies and identified OpenFortune as the company behind those placements.
The newspaper reported that the FTX promotions appeared on the reverse of slips carrying lucky numbers. OpenFortune told the publication that consumers sharing photographs of the advertisements formed part of the appeal of the format.
Polymarket’s promotions include sports and paid creators
Polymarket’s other marketing efforts have included a partnership teaser featuring LeBron James. As crypto.news previously reported, James teased a Polymarket partnership on Sep. 5 through a 14-second video showing him entering a fictional company headquarters and selecting a sports floor.
CNBC reported at the time that the planned campaign would initially focus on American football, citing a person familiar with the plans. The September account did not establish compensation, ownership interests or the duration of the agreement.
Earlier promotions attracted questions about sponsorship disclosures. A June 5 account of a Politico investigation described payments to social influencers totaling at least $350,000 over a 14-month period.
Politico attributed the payments to a personal PayPal account belonging to Polymarket chief marketing officer Matthew Modabber. Its review identified more than 490 posts mentioning the platform by paid creators, without disclosures identifying those posts as advertisements.
A company spokesperson told Politico that collaboration with creators formed part of Polymarket’s normal business practices, while declining to discuss the disclosure policies or use of the personal account.
New York officials have examined prediction-market marketing
An Aug. 12 account detailed a New York marketing inquiry involving Polymarket, Kalshi, Coinbase and Gemini Titan.
City Council Speaker Julie Menin’s office said it had spent several months examining allegations of deceptive marketing across the prediction-market industry. Letters to the four companies sought information about promotions for contracts covering sports, politics, culture, weather and other events.
The account cited CNBC reporting that Polymarket had introduced updated guidelines for employees and creators working with the company. Menin’s office said the council planned a hearing to examine whether existing consumer protections were sufficient or whether legislation or other policy changes were needed.