Polymarket Fires Its Chief Marketing Officer

Prediction market platform Polymarket has ended the tenure of Chief Marketing Officer Matthew Modabber. The decision came after an internal investigation into the company's promotional practices. The probe had drawn the attention of regulators and investors.

According to an initial report by the New York Post, Modabber was hired in 2024 and had been one of the company's longest-serving executives. His departure also marks the end of a long working relationship with founder and CEO Shayne Coplan. The company is reported to have completed a separation agreement. However, neither Polymarket nor Modabber has made a public statement about the dismissal.

The internal review focused on allegations that the company used staged betting videos, maintained an insufficiently transparent relationship with social media influencers, and presented simulated trades as real customer winnings. These claims surfaced earlier this year in a Wall Street Journal investigation, which found that some content creators had published misleading videos showing they had earned about 1.9 million dollars on the platform.

Politico reported that payments totaling more than 2.5 million dollars, made to over 800 recipients between January 2025 and February 2026 through Modabber's personal PayPal account, were also placed under review. At least 350,000 dollars of that amount reportedly went to the influencers in question. The company's recent organizational changes, along with its efforts to strengthen internal controls and improve regulatory compliance, coincide with this period.

Modabber's dismissal also raises the question of whether Polymarket is trying to repair its image ahead of a possible initial public offering. The company has not yet commented on speculation about a possible IPO. iGB's request for comment has also gone unanswered.