Polymarket confirms layoffs, rejects reported 30% staff cut
Business1 min read
Polymarket confirmed workforce reductions as part of a restructuring after contractors reportedly received termination notices effective 4 November. The company rejected claims that about 30% of employees would be affected; reports placed cuts in marketing, customer experience and engineering, while a spokesperson said the changes included departures and new hires.
Polymarket confirmed layoffs as part of a restructuring and denied reports that about 30% of its employees would be affected. The prediction-market operator has not disclosed how many employees were affected.
Contractors reportedly received termination notices effective 4 November. Contractors shared an email on X saying their contracts were being terminated as part of a company-wide workforce reduction. The reductions reportedly affected staff in marketing, customer experience and engineering.
A Polymarket spokesperson said the restructuring reflected changes in its business and the need to reorganise staffing to support future expansion. The company said the changes involved departures and new hires.
DraftKings, which operates in sports betting and igaming, has made further job cuts without saying how many employees were affected.