Polymarket confirmed employee layoffs and contractor exits without giving a headcount, while DeFiLlama data show Kalshi at nearly triple its 30-day volume, offering a snapshot of competition as the prediction-market company reorganizes.
In an emailed statement Wednesday, Nov. 11, Polymarket said the staffing changes accompanied new leadership and preparations for its next phase of growth. The company said the reorganization included hiring as well as departures. A spokesperson said Polymarket was “grateful to the team that got us here.”
Reuters and FOX Business each reported, citing a person familiar with the matter, that contractors accounted for more than half of those affected. Neither outlet reported a total. Reuters also reported that Polymarket confirmed a screenshot of an internal email telling a contractor their agreement would end Nov. 4. The email described the decision as part of a companywide reduction in force.
FOX Business cited a person familiar with the matter who said cuts primarily affected marketing, customer experience and engineering. Front Office Sports separately reported contractor reductions, particularly in marketing. FOX Business reported that Polymarket disputed online claims that 30% of its staff had been cut. Front Office Sports separately cited sources familiar with the company who said the viral claims were inaccurate. Polymarket has not provided an alternative headcount or percentage.
A DeFiLlama dashboard snapshot dated Nov. 12 listed Kalshi’s prediction volume at $17.711 billion and Polymarket’s at $5.934 billion over the trailing 30 days. The dashboard did not specify a time zone. Polymarket’s statement tied the restructuring to leadership and growth, without mentioning trading volumes.
Separately, Polymarket named Warren Jenson its first chief financial officer on Sept. 10. The appointment announcement said Jenson would oversee finance, financial and capital strategy, long-range planning and infrastructure.
