India, Oct. 23 -- Matthew Modabber, who served as Polymarket's chief marketing officer since 2024, has reportedly been fired after an internal investigation which was launched this year. Modabber was known to be closely allied with CEO Shayne Coplan.

Modabber's firing is part of the latest upheaval the prediction market giant is facing, as per The New York Post. While Modabber was close to the CEO, his ouster comes amid a series of headline-grabbing incidents, which sparked worries among Polymarket shareholders.

This includes a reported scheme where Modabber's team allegedly built a fake website in order to promote staged videos of users making money off of phony trades. The Wall Street Journal uncovered this in June and it triggered an...