TIMES OF INDIA · 2026-11-12 07:43 UTC

Polymarket confirms 'Difficult news' email going viral on social media; say: As we have brought new leadership

Polymarket confirmed an internal email circulating on X is genuine, telling some contractors their agreements end November 4, 2026 in a company-wide reduction in force. The company said the changes follow new leadership hires and a reorganisation for its next growth phase; a source told Reuters more than half of those affected were contractors. Polymarket, once the market leader, now trails rival Kalshi in monthly trading volume, and Kalshi recently raised $1 billion at a $40 billion valuation.

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