Polymarket reportedly fires marketing chief Matthew Modabber after internal probe
Polymarket 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.
