Polymarket Fires Chief Marketing Officer Matthew Modabber
Polymarket has fired Chief Marketing Officer Matthew Modabber, who had held the position since January 2024. According to ChainCatcher, citing people familiar with the matter as reported by the New York Post, the dismissal followed an internal investigation into several incidents that drew public scrutiny and investor concern.One issue involved allegations that Modabber's team created fake webpages to promote staged videos showing users making profits from fictitious trades. The Wall Street Journal reported on the matter in June, prompting an investigation by the U.S. Commodity Futures Trading Commission. The investigation is ongoing, and no violations have been established.People familiar with the matter described Modabber as a close associate of 28-year-old CEO Shayne Coplan and said his impulsive decisions as an executive contributed to public relations crises. Polymarket is finalizing Modabber's departure agreement, with both sides maintaining mutual respect during the process.