Polymarket restructures after business withdrawals, staff cuts and ending contractor agreements.
According to Bloomberg, Polymarket has laid off workers and terminated contracts with several contractors as part of a broader restructuring. The move comes after the prediction market platform lost its market leading position to a tough competitor and faced pressure from investors to improve management. Polymarket said the reorganization followed the appointment of new leadership and included the hiring of additional employees, personnel changes and layoffs, but declined to disclose specific figures. The company recently hired senior executives from Amazon, Goldman Sachs, DoorDash and Robinhood.