Polymarket cuts staff after investor pressure
In short
Polymarket cut jobs after investor pressure on founder Shayne Coplan. A Reuters-sourced summary said more than half of the affected workers were contractors.
The move comes as Kalshi has been gaining ground. That adds more pressure on Polymarket in the prediction market space.
What the reporting says
Polymarket trimmed its workforce after investor pressure on founder Shayne Coplan, according to a Reuters-sourced summary. The move comes as rival Kalshi has surged ahead, putting fresh pressure on the crypto prediction market platform. The reported cuts show investors are pushing for changes as competition intensifies.
Why it matters
Polymarket cut part of its workforce after investor pressure on founder Shayne Coplan, with more than half of those affected reported to be contractors. The reduction comes as Kalshi has surged ahead, which appears to have sharpened scrutiny on Polymarket’s position in the prediction market space.