WSJ: Polymarket CEO told staff to prioritize growth over compliance and pay fines later
- —Fraudsters linked stolen cards to thousands of Polymarket accounts and sought to withdraw at least $10 million
- —Checkout.com blocked the transactions after flagging over 80% of deposits as fraud versus an industry average of about 1%
- —Employees say CEO Coplan prioritized growth over compliance and was willing to pay fines later
- —The CFTC is investigating and has ordered records preserved; Senators Curtis and Schiff want a marketing probe
Why it matters: Mounting regulatory pressure on prediction markets could curb Polymarket's access to US users and set precedent for the sector.
Source: Blockmedia