Prediction market platform Polymarket has confirmed it is undergoing a restructuring, including layoffs and the termination of partnerships with several contractors. The company stated that the restructuring is driven by company growth and the addition of new leadership, involving new hiring, personnel adjustments, and some employee departures, but declined to disclose specific numbers.
Polymarket, once the largest prediction market exchange, was surpassed by Kalshi. In September, the company hired a former Amazon finance executive as its first CFO, and recently brought in executives from Goldman Sachs, DoorDash, and Robinhood. (Source: Bloomberg)
