Polymarket Cuts Jobs as Business Setbacks Trigger a Major Restructuring

TL;DR: Scope of the measure: The workforce reduction includes both full-time staff and external collaborators, with more than half of the cuts concentrated among contractors. Financial context: The company reported that its annualized recurring revenue surpassed $1.8 billion in November 2026, up from over $1 billion recorded in June. Leadership changes: In September 2026, the firm appointed Warren Jenson, a former Amazon executive, as its first Chief Financial Officer, alongside executives from Goldman Sachs, DoorDash, and Robinhood. Polymarket cuts jobs and terminates contracts with multiple external collaborators as part of an internal reorganization of its operational and leadership structure. The New York-based company confirmed the authenticity of the internal memos announcing the departures after they were leaked on social media.

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