Polymarket Cuts Jobs as Competition Intensifies

New York, 12 November 2026 – Prediction market operator Polymarket has cut jobs and ended contractor agreements in a reorganisation disclosed on 11 November. The company confirmed that a circulated notice ending one contractor agreement was genuine. The notice identified the move as part of a company-wide reduction and gave 4 November as the effective date for that agreement. Polymarket did not disclose the total number of employees or contractors affected.

The cuts come as Polymarket faces greater competition from Kalshi, which has overtaken it on reported monthly trading volume. For Asian investors and businesses watching the sector, the changes raise a question about how prediction market operators fund expansion while staffing their platforms and meeting regulatory requirements. The reduction does not establish how much Polymarket will save, how large the affected teams were or whether the company has changed its broader growth plans.