Polymarket removed an anti-money-laundering program during the attack, and US Chief Compliance Officer Andrew Clifford resigned in April 2026 after detailing fraud concerns to executives. A separate security flaw in July 2026 compromised the accounts of nearly 500 users. The betting app is pursuing an initial public offering by the end of 2027 and maintains that it is committed to working with law enforcement.
Tuesday, October 20, 2026
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Polymarket CEO Told Staff to Pay Regulatory Fines After $10 Million Fraud
Business29 days ago
Payment processor Checkout.com rejected more than 80% of deposits on the Polymarket US platform in February because they were linked to stolen debit cards. The fraudsters attempted to move at least $10 million through wagers and withdrawals, far exceeding the industry average fraud rate of 1%. CEO Shayne Coplan told employees to continue growing the app and pay regulatory fines if the activity was discovered.
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