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Polymarket Cuts Jobs As Competition In Prediction Market Intensifies

The New York-based company confirmed Wednesday that more than half of the job cuts involved contractors, describing the changes as necessary for its next phase of growth.

,   and  TIPP Staff
2 min read
Polymarket confirms layoffs as prediction market giant undergoes major restructuring. Pic via(@FoxBusiness)

Prediction market startup Polymarket has begun a company-wide workforce reduction effective November 4, 2026, as it restructures to strengthen its competitiveness.

The New York-based company confirmed Wednesday that more than half of the job cuts involved contractors, describing the changes as necessary for its next phase of growth.

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Polymarket has fallen behind rival Kalshi in monthly trading volume, losing its position as the largest prediction market. Kalshi has benefited from partnerships, including arrangements linked to the FIFA World Cup.

Founder Shayne Coplan has recently brought in senior executives, including former Amazon finance chief Warren Jenson and ex-Uber executive Travis VanderZanden, following investor pressure for stronger business discipline.

The company also faces a Commodity Futures Trading Commission investigation into whether it violated a 2022 agreement restricting US users' access to its overseas platform.

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tippinsightsTIPP Staff

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