Polymarket has dismissed chief marketing officer Matthew Modabber following an internal investigation opened in early 2026 into marketing practices that concerned investors. The inquiry focused on a fake webpage promoting staged profit videos and on the routing of more than $2.5 million through Modabber’s personal PayPal account, including at least $350,000 paid to content creators for promotional posts without required advertising disclosures. The Wall Street Journal first reported the practices in June 2026, and the webpage has been linked to an ongoing Commodity Futures Trading Commission investigation, although the regulator has not reached a formal finding. Modabber, who joined as the company’s eleventh employee in January 2024 and was close to chief executive Shayne Coplan, oversaw a marketing team of more than 50 people and credited his work with increasing daily trading volume from $300,000 to several hundred million dollars. His dismissal in October 2026 is part of the board’s effort to strengthen Polymarket’s credibility ahead of a potential initial public offering.
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