TLDR Polymarket confirmed layoffs of some full-time staff and many contractors, mostly in marketing. A source called viral claims of a 30% workforce cut inaccurate. New hires include former Amazon CFO Warren Jenson and Goldman Sachs veteran Lisa Mantil. Polymarket says its yearly revenue pace now tops $1.8 billion. A $1 billion funding round could value the company at about $21 billion.
Polymarket has laid off some full-time employees and ended work with many contractors, the company confirmed. The prediction market says the changes are part of a reorganization as it brings in new leaders and considers going public as soon as 2027.
Two sources told Front Office Sports the goal is to “professionalize” the business before a possible listing. The company has added several senior executives in recent months.
Polymarket did not say how many people lost their jobs. It also declined to share its total number of employees and contractors.
On November 11, the company confirmed that a screenshot of an internal email shared on X was real. The email ended a contractor agreement effective November 4 as part of a “company-wide reduction in force.”
A source said the email went only to contractors, not full-time staff. More than half of those let go were contractors, a person familiar with the cuts told Reuters.
Posts on social media claimed Polymarket cut 30% of its workforce after the midterm elections. A source familiar with the matter called those claims inaccurate.
NEW: Polymarket has laid off staff and cut ties with several contractors in a bid to recover from setbacks that left it behind its main rival. pic.twitter.com/drIkYjTApx
— Cointelegraph (@Cointelegraph) November 12, 2026
New Leaders Arrive as Marketing Is Rebuilt
Polymarket named former Amazon CFO Warren Jenson as its first finance chief