Polymarket restructures, announces staff reductions

The personnel changes primarily impacted the marketing, customer experience, and engineering departments. A spokesperson for Polymarket stated that the reorganization is intended to prepare the company for its next phase of growth, involving new hires and personnel adjustments.

“As we’ve grown and brought on new leadership, we’ve reorganized to set the company up for its next phase of growth, which has meant a lot of new hires, changes in personnel and letting some people go,” the spokesperson said. The company expressed gratitude to departing employees and contractors.

While the company disputed reports suggesting a 30% workforce reduction, it did not specify the exact percentage of employees affected. The majority of those impacted were contractors, though full-time employees were also affected.

The changes were publicly revealed after an internal email, notifying contractors about the termination of their agreements effective November 4, 2026, began circulating online.

The restructuring follows the recent appointments of new executives, including Warren Jenson as chief financial officer in September and Travis VanderZanden as chief growth officer earlier in the year. The leadership team recently assessed staffing needs and departmental organization.

The move also occurs as Polymarket faces increased competition from Kalshi, which has surpassed Polymarket in monthly trading volume.