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Yes,
I wrote about it a while ago: https://vimvq1987.com/2016/06/beauty-episerver-commerce-new-promotion-system/
promotions are just content, so you can use the IContentRepository to create/load/update/save the PromotionData instance
Is it possible to programmatically create a Discount?
Same as would happen if it were done from UI, http://prntscr.com/ie4s65
Regards,
/Stefan Sonesson