Prediction markets predicted everything—except their own layoffs.
Reuters confirmed on November 11: Polymarket cut full-time staff and ended most contractor agreements.
An internal email took effect on November 4, and the company confirmed the screenshot was real.
The online claim that “30% of staff were laid off” was false.
Reuters sources said more than half of those let go were contractors; the company hasn’t disclosed the exact number.
The most ironic figures:
In the third quarter, Kalshi had 73% of trading volume, while Polymarket was down to just 18%.
Annualized revenue hit $1.8 billion, up from $1 billion in June—and the more it earns, the more it cuts.
Its former CMO was fired by the board just last month after someone on his team built a fake website for the company.
One of the platform’s consistently popular markets asks where $BTC will close at the end of the month.
Too bad nobody opened a market on whether Polymarket would lay people off this year.
Next time someone tells me prediction markets know everything, I’ll send them this.
#PredictionMarkets
Reuters confirmed on November 11: Polymarket cut full-time staff and ended most contractor agreements.
An internal email took effect on November 4, and the company confirmed the screenshot was real.
The online claim that “30% of staff were laid off” was false.
Reuters sources said more than half of those let go were contractors; the company hasn’t disclosed the exact number.
The most ironic figures:
In the third quarter, Kalshi had 73% of trading volume, while Polymarket was down to just 18%.
Annualized revenue hit $1.8 billion, up from $1 billion in June—and the more it earns, the more it cuts.
Its former CMO was fired by the board just last month after someone on his team built a fake website for the company.
One of the platform’s consistently popular markets asks where $BTC will close at the end of the month.
Too bad nobody opened a market on whether Polymarket would lay people off this year.
Next time someone tells me prediction markets know everything, I’ll send them this.
#PredictionMarkets
