Polymarket2026-10-23 08:31:13Polymarket fires CMO after probe into alleged fake trading videos and influencer paymentsPolymarket has dismissed chief marketing officer Matthew Modabber after an internal investigation into marketing practices that drew scrutiny from investors and regulators, according to a New York Post report published on Oct. 22. The issues under review included allegations that the company promoted the prediction market platform with videos showing fabricated trading profits and that marketing payments to influencers were routed through Modabber’s personal PayPal account. The report said the decision triggered internal conflict because Modabber and Polymarket founder and CEO Shayne Coplan have been close friends since high school in Manhattan. People cited in the report said Coplan strongly opposed the move and at one point threatened to fire members of the legal team who supported removing Modabber. The board ultimately decided to push ahead. The controversy traces back to earlier reporting by The Wall Street Journal and Politico. The Journal said some TikTok videos tied to Polymarket-style promotions showed gains that did not match actual market records, while Politico reported that more than $2.5 million was sent from Modabber’s personal PayPal account to more than 800 people between January 2025 and February 2026. The board reportedly viewed the matter as a governance issue as Polymarket weighs a possible IPO and tightens internal controls.00
Polymarket2026-10-23 05:01:19Polymarket reportedly fires marketing chief Matthew Modabber after internal probePolymarket has reportedly dismissed Chief Marketing Officer Matthew Modabber following an internal investigation into several alleged misconduct incidents, according to the New York Post. The report said one issue involved an alleged fake-trades scheme and that investors had grown concerned about a series of embarrassing episodes tied to the company. Modabber, who had served as CMO since January 2024, is also described as a close friend of CEO Shayne Coplan, which reportedly complicated the decision. The New York Post said the U.S. Commodity Futures Trading Commission is investigating claims that Modabber’s team created a webpage featuring videos of users profiting from fake trades. No wrongdoing has been proven so far. The Wall Street Journal had previously reported in June on the same allegation, and Polymarket said at the time that it was committed to maintaining accurate, fair and transparent markets. The Post also reported that Polymarket’s board concluded in recent weeks that Modabber was obstructing efforts to improve the company’s image as it weighs a possible initial public offering. CoinDesk said it had contacted Polymarket for comment.20
