Bloomberg: Polymarket CEO Misappropriated Company Funds for Personal Expenses

On October 20 that, according to Bloomberg, sources familiar with the matter revealed that Founders Fund discovered in 2025 when considering an investment in the decentralized prediction market platform Polymarket that its CEO, Shayne Coplan, had used company funds to pay for private jet charters, apartment rent, and personal expenses, while Polymarket had not yet generated revenue at the time. Prior to formally wiring the investment capital, Founders Fund required Coplan to implement ongoing internal financial control remediation measures and fully repay the relevant amounts.