Polymarket Restructures After Losing Prediction Market Lead to Kalshi

Key insights Prediction markets platform Polymarket laid off employees and ended contracts with several contractors, Bloomberg reported. The company has recruited executives from Amazon, Goldman Sachs, DoorDash, and Robinhood. South Korea restricted access to Polymarket after a regulator raised concerns about its markets. Polymarket confirmed workforce reductions on Nov. 11, 2026, as rival Kalshi extended its prediction-market trading lead. The New York-based company dismissed employees and terminated contractor agreements during a broader restructuring. Bloomberg first reported the cuts, which followed pressure on founder Shayne Coplan to improve business operations. Polymarket declined to disclose the number of affected workers. Polymarket Changes Follow Market Position Against Kalshi The workforce changes follow Polymarket losing its position as the largest prediction market exchange to rival Kalshi.

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