Polymarket, a decentralized prediction market platform, has fired its Chief Marketing Officer, Matthew Modabber, according to the New York Post. Modabber is also a close friend of the company's CEO, Shayne Coplan. The dismissal followed an internal investigation that uncovered multiple instances of misconduct, including an alleged scheme involving fake trades that had raised investor concerns. Modabber had served as CMO since January 2024. Previously, the Wall Street Journal reported that Modabber's team created a fake webpage to display videos of users profiting from fabricated trades. The U.S. Commodity Futures Trading Commission (CFTC) has launched an investigation into the matter, which is ongoing and has not yet proven any misconduct. According to sources, Polymarket's board believed Modabber hindered the company's efforts to shed its startup image and potentially pursue an IPO, despite CEO Coplan initially opposing his dismissal.