Polymarket chief marketing officer Matthew Modabber sent more than $2.5 million to over 800 people via a personal PayPal account between January 2025 and February 2026, according to a POLITICO investigation published Friday. At least $350,000 of that total went to social media creators who promoted the prediction market on X, with roughly 20 paid influencers posting approximately 490 times without disclosing the financial relationship. The payments emerged as Polymarket pushes to re-enter the U.S. market after spending $112 million on a CFTC-licensed exchange, raising questions about compliance with Federal Trade Commission disclosure requirements for paid endorsements.
Modabber Paid 800+ Recipients Through Personal PayPal Account
POLITICO reported that Modabber used a personal PayPal account registered to an email tied to a salad shop he co-founded to distribute the funds over a 14-month period. Recipients spanned the political spectrum and included figures such as Nick Shirley, Riley Gaines and Brian Krassenstein. Shane Ginsberg, who ran a man-on-the-street video operation called Street Poller, received at least $77,000 according to the investigation. Roughly a third of the posts presented routine shifts in Polymarket's betting odds as "BREAKING" or "NEW" developments.
One creator who spoke to POLITICO anonymously said Polymarket supplied scripts and dictated when posts went live. "They actually told us, 'This one needs to get out now,' as if we were cattle," the person said. Street Poller interviewers sometimes promoted the platform without naming it, according to the report.
Last August, Modabber reshared an X post stating that Polymarket's brand recognition "cannot be faked" and added, "CANNOT BE FAKED." The reporting does not allege the payments themselves were illegal, and no regulator has announced an action as of publication.
FTC Requires Disclosure of Paid Endorsements
The Federal Trade Commission requires influencers to disclose a material connection to a brand they promote. A former agency official told POLITICO that paid endorsements demand clear, conspicuous disclosure.
A Polymarket spokesperson described working with influencers as standard business practice but declined to comment on the company's disclosure policies or Modabber's use of a personal account when asked for comment by POLITICO for the article.
Polymarket Spent $112M on CFTC-Licensed Exchange
Polymarket spent $112 million on a CFTC-licensed exchange as it pushes to re-enter the U.S. market. The company previously drew scrutiny for paying U.S. influencers around the 2024 election, when sponsored posts spread under tags like #PMPartner. POLITICO's records show the money moving through one executive's personal account, with creators presenting it as news.
Polymarket has vaulted back to the front of a booming prediction-market sector alongside rival Kalshi, which it accused of corporate espionage just a few days ago.
FAQ
What did Polymarket's CMO do between January 2025 and February 2026?
Matthew Modabber sent more than $2.5 million to over 800 people via a personal PayPal account, with at least $350,000 going to social media creators who promoted Polymarket on X without disclosing the payments.
How many undisclosed posts did paid influencers make about Polymarket?
According to POLITICO's investigation, at least 20 paid creators posted approximately 490 times on X without disclosing their financial relationship with Polymarket.
What does the FTC require for paid endorsements?
The Federal Trade Commission requires influencers to disclose a material connection to a brand they promote, with a former agency official telling POLITICO that paid endorsements demand clear, conspicuous disclosure.
