Polymarket has confirmed a restructuring that includes layoffs and the end of arrangements with several contractors, according to a Bloomberg report summarized by PANews on November 12, 2026, at 03:23 (UTC+8).
A screenshot of an email circulated on X the previous week, saying the company would conduct “company-wide layoffs” during November. Polymarket confirmed the email was authentic. In a statement, the company said its restructuring followed growth and the arrival of new leadership, and involved substantial hiring, personnel changes and some departures. It declined to disclose how many people were leaving.
Bloomberg reported that Polymarket had once been the largest prediction-market exchange before Kalshi overtook it. Polymarket hired a former Amazon finance executive as its first chief financial officer in September and had recently brought in executives from Goldman Sachs, DoorDash and Robinhood. Those hires provide context for the reshuffle, but the company’s statement does not establish the scale of the cuts.