COINDESK · 2026-11-12 10:42 UTC

Polymarket trims workforce under investor pressure as Kalshi surges ahead

Polymarket confirmed job cuts and ended contractor agreements, without saying how many people were affected; more than half of those affected were contractors. The cuts follow investor pressure on founder Shayne Coplan for more discipline, and Polymarket now trails rival Kalshi in monthly trading volume per DeFiLlama data. Polymarket also named Warren Jenson as its first CFO in September and reportedly dismissed marketing chief Matthew Modabber in October after an internal misconduct probe.

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