Polymarket confirms restructuring and ends partnerships with some contractors.
PANews, citing Bloomberg, reported that the prediction market platform is undergoing a restructuring that includes layoffs and ending partnerships with multiple contractors. A screenshot of an email circulated on X last week said the company would carry out “company-wide layoffs” this month. Polymarket has confirmed the email is authentic. In a statement, the company said it had restructured as it grows and brings in new leadership, involving significant new hiring, staff changes, and the departure of some employees, but declined to disclose specific numbers.
· Reports say Polymarket was overtaken by Kalshi, losing its position as the largest prediction market exchange.
· In September, the company hired a former Amazon finance executive as its first CFO. It has also recently brought in executives from Goldman Sachs, DoorDash, and Robinhood.
Would you rather track Polymarket and Kalshi’s share of trading volume, or the product moves of the new management team?
PANews, citing Bloomberg, reported that the prediction market platform is undergoing a restructuring that includes layoffs and ending partnerships with multiple contractors. A screenshot of an email circulated on X last week said the company would carry out “company-wide layoffs” this month. Polymarket has confirmed the email is authentic. In a statement, the company said it had restructured as it grows and brings in new leadership, involving significant new hiring, staff changes, and the departure of some employees, but declined to disclose specific numbers.
· Reports say Polymarket was overtaken by Kalshi, losing its position as the largest prediction market exchange.
· In September, the company hired a former Amazon finance executive as its first CFO. It has also recently brought in executives from Goldman Sachs, DoorDash, and Robinhood.
Would you rather track Polymarket and Kalshi’s share of trading volume, or the product moves of the new management team?
