# Polymarket Fraud Scheme Targets Stolen Debit Cards

> Fraudsters use prediction markets to launder millions via stolen debit cards.
- Title: Polymarket Fraud Scheme Targets Stolen Debit Cards · Futurism
- Summary: Fraudsters use prediction markets to launder millions via stolen debit cards. Polymarket's payment processor rejected 80% of transactions as fraudulent due…
- Keywords: polymarket, stolen debit cards, prediction markets, fraud, wall street journal, shayne coplan, commodity future trading commission, payment processor, science, technology, Scheme, Targets
- Source: Futurism — https://futurism.com/future-society/polymarket-gambling-massive-money-laundering-scheme
- Author: Joe Wilkins
- Published: 2026-09-26T17:01:00+00:00
- Read time: 1 min
- Topics: polymarket, stolen debit cards, prediction markets, fraud, wall street journal, shayne coplan, commodity future trading commission, payment processor, science, technology
## Fraudsters exploit prediction markets
Gambling platforms like Polymarket are being used by fraudsters to make wagers with stolen debit cards.

> in the regulated space, this kind of thing does not happen
## Massive fraud detected
A payment processor flagged a surge in bets using stolen cards, triggering $10 million in potential fraud.
## Payment processor rejection
The processor rejected 80 percent of transactions as fraudulent, far exceeding the industry norm of 1 percent.
## CEO ignores warnings
Polymarket CEO Shayne Coplan instructed his team to continue accepting fraudulent transactions.
## Regulatory experts warn
Former CFTC attorney Joe Konizeski says this level of fraud is unprecedented in regulated markets.
## Key takeaway

Polymarket's payment processor rejected 80% of transactions as fraudulent due to stolen card fraud.