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.
The two were friends at Beacon School, a prestigious public school in Manhattan ‘s Hell’s Kitchen neighborhood. As per the Post, the two were ‘thick as thieves’ when Polymarket rose to fame – offering users a chance to bet on anything, from the Oscars to the weather. Coplan was reportedly ‘irate’ and even threatened to terminate members of the legal team which pushed for Modabber’s firing. However, the CEO later conceded that parting ways with his school friend and chief marketing officer was best for Polymarket. The company board, comprising of Coplan, crypto investor Nick Tomaino, powerful corporate lawyer Alex Spiro and an unidentified partner at Peter Thiel’s investment firm Founders Fund, decided that in recent weeks Modabber was getting in the way of Polymarket trying to shed its image of a startup, as it eyes a possible IPO.
