Polymarket has been embroiled in controversy due to a social media post related to Amazon founder Jeff Bezos. The prediction market claimed that Bezos recently advised young entrepreneurs to work in a regular job before starting a business.

Bezos immediately refuted the claim. This incident raised concerns once again about the prediction market's repeated use of social media to spread unverified news and false information.

Polymarket post…Bezos rebuttal

On Thursday, Polymarket posted on X that Bezos recently advised "promising Gen Z entrepreneurs" to first work in a "real-world job" like McDonald's or Palantir before starting their own business.

Hours later, the Amazon founder responded to the post, expressing that he never made such statements and questioned how Polymarket fabricated such content.

Following the controversy, a video surfaced showing Bezos advising young entrepreneurs at the Italian Tech Week. However, this conversation took place nearly three months ago, and Bezos did not mention either of the two companies referenced in the Polymarket post.

"I always advise young people. First, work for a company with good best practices and learn a lot of the basics," he said, adding, "I started Amazon at thirty, not at twenty. That ten years of experience actually increased Amazon's chances of success." – Jeff Bezos, Amazon founder

What happened this week stood out in that Bezos clearly denied Polymarket's claims.

At the same time, the issue of prediction markets spreading false information via social media continues to be highlighted as a problem.

Platforms like Polymarket and Kalshi are under strong suspicion for distorting events or broadcasting clearly false information while delivering breaking news. This content spans a wide range from sports betting to geopolitical tensions.

Social media users quickly pointed out specific cases.

Prediction market, global spread of misinformation?

In recent weeks, international tensions have significantly increased. For example, there have been clashes over the arrest of Venezuelan dictator Nicolás Maduro, large-scale protests in Iran, and the possibility of Greenland being purchased by US-European countries.

Such events have triggered various bets in prediction markets. At the same time, these platforms are posting notifications on social media that are not accurate.

Earlier this month, Polymarket posted a "breaking news" report stating that the Iranian regime's security forces had lost control over some major cities.

The Iranian government faces internal challenges but still maintains control through military and security forces. The post recorded about 7 million views, 17,000 likes, and 2,000 reposts, despite containing controversy or inaccurate claims.

The majority of comments criticized this prediction market platform as a fake news site.

Kalshi also posted about the tensions regarding Greenland between the US and Denmark. The prediction market announced that both countries formed a working group to discuss US interest in purchasing Greenland. This post recorded 2.8 million views.

Despite the White House making such claims, Denmark maintained a different stance. The Danish government stated that it "addressed US security concerns related to Greenland."

Polymarket and Kalshi did not immediately respond to BeInCrypto's request for comment.

There are also similar reports that Kalshi affiliates posted sports-related fake news on their social media accounts.

According to Front Office Sports, both Kalshi and Polymarket plan to continue using their affiliation badges despite concerns raised over these false posts.

With explosive growth expected for prediction markets next year, their actions of spreading unverified information through social media are increasingly drawing attention.