Riskified Ltd

The Wall Street Journal has reported that in February of this year, an attempted fraudulent scheme involving stolen debit cards worth at least $10 million targeted the U.S. operations of prediction market platform Polymarket. According to the WSJ, the fraudsters registered stolen cards on thousands of Polymarket accounts, made deposits, and then attempted to move the funds through trades into accounts they controlled. At one point, payment processor Checkout.com rejected more than 80 percent of the deposits it handled as fraudulent, far exceeding the roughly 1 percent that is typical in the industry. The total amount of attempted fraud reached at least $10 million, though the actual losses remain unclear. The WSJ reported that when compliance staff raised concerns about the surge in fraud with CEO Shayne Coplan, he prioritized growth and indicated that if regulators imposed fines, the company could simply pay them. Polymarket disputed this characterization of its internal situation, saying it has systems in place to detect, investigate, and respond to suspicious activity and is committed to cooperating with regulators and law enforcement. The company has since tightened its measures, including limiting the number of debit cards that can be linked and bringing in fraud detection firm Riskified. According to the WSJ, a separate unauthorized access incident occurred in July, in which an attack using stolen personal information affected about 500 users.

Riskified reported second-quarter 2026 revenue of $98.7 million, up 22% year-over-year and the strongest growth in more than four years. Non-GAAP gross profit rose 13% to $45.4 million, while adjusted EBITDA increased 84% to $3.9 million. The company raised its full-year revenue guidance to between $400 million and $410 million and adjusted EBITDA guidance to between $33 million and $39 million. Digital finance revenue grew approximately 180% year-over-year, and the company repurchased 13.7 million shares for $63.9 million during the quarter.

Riskified and Marqeta have announced a partnership that integrates Riskified's pre-authorization risk intelligence into Marqeta's modern card issuing platform, aiming to help issuers approve more legitimate ecommerce transactions and reduce false declines. The integration gives card issuers on Marqeta's platform additional context on orders before authorization, leveraging insights from Riskified's global network of merchant transaction data. According to 2023 research by PYMNTS Intelligence and Nuvei, false declines put an estimated $157 billion in U.S. ecommerce sales at risk, with $81 billion ultimately lost. Riskified has already demonstrated measurable impact with other issuer partners, including a top-tier U.S. card issuer that increased authorization rates by up to 5.9% and cut false declines by 25% with certain Riskified merchants. The partnership strengthens Marqeta's Real-Time Decisioning offering by layering richer merchant data into its AI-powered predictive risk score.