Author: David Christopher, Bankless

Translation: Deep Tide TechFlow

Deep Tide Introduction: Prediction market platform Polymarket has confirmed it has laid off some full-time employees and terminated several outsourcing contracts, primarily affecting the marketing, customer experience, and engineering departments. Under pressure from investors to streamline operations, the company is accelerating its transformation towards professional management.

This adjustment comes as competition in the prediction market intensifies. DefiLlama data shows that competitor Kalshi has achieved a trading volume of $17.7 billion over the past 30 days, approximately three times that of Polymarket during the same period. Recent personnel changes at Polymarket have also been interpreted as paving the way for a public listing plan as early as 2027.

The prediction market platform stated it is undergoing a reorganization under the new management, as competitor Kalshi's trading volume has reached approximately three times that amount over the past 30 days.

Polymarket confirmed that it has laid off some employees and terminated outsourcing contracts. The company told Reuters that an email circulating online, stating that outsourcing agreements would be terminated as of November 4 as part of a company-wide layoff, is accurate.

Core Event Dynamics

· Layoff Details: Polymarket declined to disclose the specific number of layoffs, but denied reports circulating online that claimed “30% layoffs.” According to insiders, more than half of those affected are contractors, primarily concentrated in marketing, customer experience, and engineering departments.

· Widening Gap: According to DefiLlama data, Kalshi processed approximately $17.7 billion in trading volume over the past 30 days, while Polymarket's was about $5.9 billion; in October, the figures were $16.6 billion and $6 billion, respectively.

CoinDesk quoted Bloomberg reports stating that investors have been pressing founder Shayne Coplan to operate the business in a more streamlined and efficient manner.

· New Management Team: Following the firing of Chief Marketing Officer Matthew Modabber in October, Polymarket appointed former Amazon finance head Warren Jenson as the first Chief Financial Officer in September, and hired former Uber executive Travis VanderZanden as Chief Growth Officer.

Two sources told FOS that this series of measures to push the company towards “professionalization” comes as the company considers moving towards a public listing as early as 2027, though Polymarket has not confirmed any related listing plans.