The Wall Street Journal reports that fraudsters exploited Polymarket by placing wagers with stolen debit card information, then withdrawing winnings into accounts they controlled. A payment processor working with Polymarket flagged the scheme as early as February, rejecting over 80 percent of incoming transactions as fraudulent — far above the roughly 1 percent industry norm — with attempted fraud totaling at least $10 million.
futurism.com
· 2026-09-26
The Wall Street Journal reports that a payment processor working with Polymarket flagged widespread use of stolen debit cards to place bets on the platform starting as early as February. Fraudsters allegedly used stolen financial data to wager and then withdrew winnings through other payment channels, with the processor rejecting more than 80 percent of transactions as fraudulent, far above the roughly 1 percent industry norm.
futurism.com
· 2026-09-26
Prediction market Polymarket allowed a scheme involving stolen debit cards to proceed despite internal warnings, with CEO Shayne Coplan reportedly dismissing concerns raised about the fraud. The company is now moving to strengthen its executive leadership team as it positions itself for a potential public listing.
wsj.com
· 2026-09-20
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