Polymarket Launches Celebrity Campaign As App Store Downloads Surge

Polymarket has launched a major US advertising campaign featuring LeBron James and a host of sporting and entertainment figures, coinciding with the prediction market platform climbing to the top of Apple’s free finance app rankings.

The 90-second commercial features James alongside Eli Manning, Derek Jeter, Richard Sherman, John Leguizamo and Spike Lee, among others. Directed by filmmaker Peter Berg, the campaign follows James teasing his new relationship with Polymarket on social media last weekend.

James' move to Polymarket comes after his multi-year partnership with DraftKings reportedly expired earlier this summer.

Polymarket Launches Squads Social Product

The campaign coincides with the introduction of Squads, a new social feature within Polymarket's US app designed to combine discussion and prediction market trading.

Polymarket said Squads provides users with a dedicated space to discuss markets, share predictions and trade alongside friends without leaving the platform.

“People are constantly debating what’s going to happen next with their friends and sharing predictions in group chats,” Polymarket Chief Growth Officer Travis VanderZanden said.

“With Squads, we’re bringing the conversation and trading together so friends can follow the events they care about and make their predictions in one place.”

The campaign quickly generated significant online attention, with the commercial receiving more than 15.5 million views through James' X account. Posts from other participants also attracted substantial engagement, including a post from Manning that generated approximately 1.2 million views.

Polymarket subsequently reached number one in Apple's US App Store rankings for free finance apps on Tuesday, moving ahead of prediction market rival Kalshi as well as Capital One Mobile, PayPal and Venmo.

Celebrity Campaign Draws Responsible Gambling Criticism

The involvement of prominent athletes has also attracted criticism from responsible gambling advocates amid wider debate surrounding sports-related prediction markets in the US.

New York sports radio host Craig Carton, who has previously spoken publicly about his experience with compulsive gambling, criticised athletes for promoting prediction market platforms. One area of concern is that prediction markets can allow users aged between 18 and 20 to trade sports-event contracts, while regulated US sportsbooks generally require customers to be at least 21.

“At what point does someone come along where you say no to the offer?” Carton said.

The debate comes as prediction markets compete increasingly directly with traditional sportsbooks for sports-focused customers. DraftKings and other operators have also expanded into event contracts, including in states where conventional regulated sports betting is unavailable.

Prediction Markets Face Evolving Regulatory Landscape

Sports-event contracts remain the subject of regulatory disputes in the US, particularly over the respective roles of federal commodities regulation and state gambling laws.

Prediction market exchanges operating as designated contract markets are overseen at federal level by the Commodity Futures Trading Commission (CFTC). The regulator is also continuing to develop its approach to event contracts as the sector expands.

Polymarket's latest marketing push arrives alongside significant growth in the company's sporting presence. The platform has established partnerships with several major US sports organisations, while the New York Yankees became the first Major League Baseball club to partner directly with Polymarket in August.

The company is also reportedly seeking a valuation of approximately $21 billion through a new funding round led by 1789 Capital. The latest campaign and launch of Squads further underline Polymarket's efforts to expand its mainstream US audience as competition between prediction markets and traditional sports betting operators intensifies.