Polymarket fires chief marketing officer after internal investigation

Polymarket has fired its chief marketing officer, Matthew Modabber, following an internal investigation into incidents that raised concerns among the company’s investors. The company is reportedly working toward a more professional corporate image as it weighs a potential initial public offering. What the investigation found The internal review began earlier in 2026. It centered on marketing practices that set off alarms among investors. Two issues stand out. The first involves a fake webpage that promoted staged videos showing traders making profits. The second concerns money flows. More than $2.5 million was routed through Modabber’s personal PayPal account, according to the research. At least $350,000 of that reportedly went to content creators for promotional posts that did not carry the required disclosures. The Wall Street Journal first reported on the practices in June 2026. The fake webpage has been linked to an investigation by the Commodity Futures Trading Commission, which the research describes as ongoing. Polymarket has not faced any formal regulatory finding of wrongdoing. From employee number 11 to the exit Modabber was no peripheral figure. He joined Polymarket in J...