Polymarket Cuts Staff and Contractors in Reorganization

Polymarket has cut staff and contractors, with marketing roles hit hardest, as the prediction-market platform restructures while trailing rival Kalshi despite rising reported revenue. The reorganization comes as the two platforms compete for share of the event-contracts market, where Kalshi has built a lead in U.S. regulated trading. Polymarket has leaned on crypto rails and high-volume event markets to drive growth, but the cuts signal a push to tighten costs. The size of the reduction and the affected headcount were not specified. Watch whether the trimmed marketing function slows Polymarket's user acquisition and whether it can close the gap with Kalshi on volume and market share.