Polymarket fires CMO Modabber after internal misconduct probe

Polymarket has fired chief marketing officer Matthew Modabber — a close friend of CEO Shayne Coplan since high school — after an internal investigation into several misconduct episodes, per the New York Post as confirmed by CoinDesk on Oct. 23. One alleged incident, reported by the WSJ in June, involved his team building a fake webpage showcasing videos of users profiting on fake trades, which is now the subject of an ongoing CFTC probe; no wrongdoing has been proven.

• Modabber had been CMO since January 2024; sources say the firm is finalizing a separation agreement.
• The board reportedly concluded he was hindering Polymarket's effort to shed its scrappy image as it weighs a possible IPO, a decision complicated by his personal ties to Coplan.
• Polymarket had not responded to a request for comment at publication.