Polymarket allegedly paid controversial influencers $350,000 using personal PayPal account

Polymarket, a prediction market platform, has allegedly paid at least $350,000 to social media influencers over a 14-month period, with many of those creators later promoting the platform on X without disclosing the paid relationship, according to a POLITICO investigation based on PayPal transaction records. The payments were reportedly sent by Polymarket’s chief marketing officer, Matthew Modabber, through a personal PayPal account between January 2025 and February 2026. During this period, Modabber is said to have transferred more than $2.5 million to over 800 individuals, with at least 20 influencers posting about Polymarket hundreds of times on social media.

Among those who reportedly received payments were prominent political and media figures, including conservative influencer Alex LoRusso, political commentator Brian Krassenstein, and Fox News contributor Riley Gaines. A Polymarket spokesperson stated that working with content creators is part of the company’s normal business practices but declined to comment on disclosure policies or expenses.

The Federal Trade Commission requires influencers to disclose material connections when endorsing products or services. Former FTC deputy general counsel Robin Moore noted that the described activity appeared to require such disclosures. The marketing efforts coincided with Polymarket’s expansion and the launch of new features, including a partnership with Elon Musk’s xAI company.

The platform is also facing regulatory scrutiny in multiple jurisdictions, including South Korea, where authorities are investigating whether user activity violates gambling laws. In the U.S., the Department of Justice and the Commodity Futures Trading Commission have taken legal action against individuals for alleged misconduct involving Polymarket contracts.