This is considered a dubious response to 1. e4 because it allows 2. Bxb5, and if White plays accurately, Black does not get sufficient compensation for the sacrificed b-pawn. As a result, the Polish gambit is almost never used, and is the least played response to 1. e4.
Despite this, there is some try for an advantage with the Grindewald Attack, where if white does not play carefully they could end up severely disadvantaged.
1. e4 b5 2. Bxb5 Bb7 3. Nc3 f5!?
And here, if white plays 4. exf5? black wins the the rook with 4... Bxg2.