Polymarket Lays Off Employees and Ends Contractor Deals, Denies Reports of 30% Workforce Cuts
Polymarket has laid off employees and ended contractor agreements as part of a company restructuring, though it denied reports suggesting 30% of its workforce was cut.
The company did not disclose how many employees and contractors were affected by the cuts. Polymarket has laid off employees and ended several contractor agreements as part of a broader company restructuring. Cuts have mainly affected its marketing, customer experience, and engineering teams.
The company said that the move comes as it prepares for its next phase of growth. More than half of those affected were contractors, while some full-time employees were also let go, according to FOX Business.
Workforce Reduction
Polymarket pushed back against reports claiming that around 30% of its workforce had been cut, describing that figure as inaccurate. The layoffs came into focus after an internal email informing contractors about the termination of their agreements started circulating on X.
their contracts would end effective November 4, 2026, under a company-wide reduction in force
Market Trends
The restructuring comes alongside several leadership changes at Polymarket. Warren Jenson joined as the company's first chief financial officer in September, while former Uber executive Travis VanderZanden came on board as chief growth officer earlier this year.
Polymarket and Kalshi together accounted for 91% of that volume.
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