Polymarket's growth strategy linked to major fraud attack

Polymarket faced a major fraud attack in February in which thieves tried to steal at least $10 million by linking stolen debit cards to Polymarket US, according to a Wall Street Journal investigation. The article frames the incident as a consequence of the platform's 'growth at all costs' strategy.

Credit-card fraud at scale threatens the viability of fiat on-ramps for prediction markets and could push regulators to impose stricter KYC or fund-verification rules on event-contract platforms.