As you can see above, there are 4 arbitrary texts pulled up. The first Text widget illustrated is more than sufficient to placing the entire Privacy Policy but I have deliberately added 3 more text widgets for your reference, and to make things done with ease and avoid repeating the same step for placing any pages and content.
On hitting the Dropdown arrow of the first text widget, you will be shown this image:
Notice how I have placed the Privacy Policy in the main text box AND leaving the TITLE EMPTY!
"Empty space" written in the title box is just to make you understand. You will not place your Privacy Policy there. Leave that empty.
Now, go to the Privacy Policy that you would be placing on the Footer by hitting the EDIT PAGE and COPYING the permalink as shown next:
Another way of doing that is to create a menu, I normally called it 'Legal' and use the Custom Menu widget to place it to the footer.
(alternative).
Joe