Polymarket has fired Chief Marketing Officer Matthew Modabber, who held the position since January 2024, following an internal investigation into incidents that drew external scrutiny and concerned investors. The probe uncovered allegations that Modabber's team created fake webpages to promote "staged" videos showing users profiting through fraudulent trades.
The scheme was exposed in a June Wall Street Journal report, which subsequently triggered an ongoing U.S. CFTC investigation. No violations have been determined yet. Sources indicate Modabber was a close confidant of CEO Coplan and frequently made impulsive decisions that led to public relations crises during his tenure. Polymarket is currently finalizing Modabber's separation agreement.
Polymarket CMO Matthew Modabber Fired Following Internal Investigation Into Fake Trade Promotions
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