Polymarket confirms workforce reduction amid reorganisation
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Polymarket confirmed a company-wide workforce reduction, saying it was reorganising as the business prepared for a new phase. It rejected reports that the cuts would affect about a third of its staff but did not disclose the number affected; cuts across marketing, customer experience and engineering were reported.
Polymarket confirmed a round of layoffs but did not disclose how many employees were affected. The company rejected reports that it had cut 30% of its workforce.
Reports indicated that marketing, customer experience and engineering were affected, and that contractors made up more than half of those affected, though some full-time jobs were also included. Further growth required a workforce reorganisation that included hiring and other personnel changes, a spokesperson said.
Contractors shared an agreement on X notifying them that their terminations were effective on 4 November. The changes followed the appointment of Warren Jenson as chief financial officer.
DraftKings has also laid off staff without saying how many people were affected. The cuts preceded its Q3 results; despite strong revenue, the company lowered its FY 2026 expectations.