That is according to a report from the Wall Street Journal detailing the alleged illicit activity. According to documents filed in the Superior Court of the District of Columbia, Polymarket is being sued by the National Association of Consumer Advocates (NACA) for allegedly deploying a “pattern of flagrantly deceptive and unfair marketing” to mislead American consumers to risk their money to “place bets” on Polymarket platforms.
In addition to deceptive marketing of the Polymarket platforms, the NACA is accusing the prediction market of deceptive failure to disclose material connection and unfair promotion of the Polymarket platforms to college-aged Americans.
The association cites the District of Columbia Consumer Protection Procedures Act (CPPA), alleging that Polymarket’s marketing practices violate the statute.
The suit also names Polymarket CEO Shayne Coplan and Chief Marketing Officer Matthew..