FOX · 2026-11-12 04:08 UTC

Polymarket confirms layoffs as prediction market giant undergoes major restructuring

Polymarket confirmed layoffs and terminated contractor agreements as part of a broader restructuring, with cuts mainly hitting marketing, customer experience and engineering teams. More than half of those affected were contractors; some full-time employees were also let go, though Polymarket disputed a reported 30% workforce cut without disclosing the actual percentage. The restructuring comes as rival Kalshi has overtaken Polymarket in monthly trading volume, and as new executives including a first CFO and a chief growth officer have joined.

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