Polymarket CMO’s $2.5M Personal PayPal Payments to Influencers Uncovered
- Polymarket CMO Matthew Modabber sent over $2.5 million via personal PayPal to more than 800 individuals from January 2025 to February 2026.
- At least $350,000 was paid to social media creators who promoted Polymarket on X without disclosing the payments.
- About two dozen creators posted approximately 490 times, often presenting routine shifts in Polymarket’s betting odds as major news.
- The Federal Trade Commission requires clear disclosure of paid endorsements, which was reportedly not adhered to by these influencers.
- Polymarket spent $112 million on a CFTC-licensed exchange as part of its efforts to re-enter the U.S. market.
This investigation highlights undisclosed payments made by Polymarket’s CMO through a personal account, raising concerns about transparency in influencer marketing practices within the cryptocurrency sector.
The use of a personal PayPal account and lack of disclosure could complicate Polymarket’s attempts at regulatory legitimacy as it seeks to expand its presence in the U.S. market.(Source)
