Polymarket CEO reportedly told staff to prioritize growth over compliance amid massive fraud probe

Polymarket CEO Shayne Coplan reportedly told employees to keep chasing growth even as stolen debit card fraud was draining through the platform at industrial scale, suggesting the company could simply pay a fine if regulators came knocking. The alleged directive came as fraudulent deposits peaked at over 80% of total volume on the platform, a number so far removed from the industry norm of roughly 1% that it reads less like a red flag and more like a five-alarm fire. The fraud, which targeted at least $10 million on Polymarket’s US platform, was flagged in February 2026 by the company’s payment processor. What followed was not a swift crackdown but, according to reports, months of continued exposure as leadership allegedly chose expansion over containment. The scale of the problem The scheme involved unauthorized use of stolen debit cards to funnel money onto the platform. The payment processor raised the alarm early, but the response from leadership reportedly prioritized a different kind of math. Rather than halting deposits or tightening verification, Coplan allegedly told staff that any resulting regulatory penalty would be a manageable cost of doing business. Multiple executiv...