According to Bloomberg, prediction market platform Polymarket recently laid off some employees and terminated partnerships with several contractors as part of a company-wide restructuring. Polymarket, once the largest prediction market trading platform, has been overtaken by its main competitor Kalshi in the past two years and faces numerous legal issues. As previously reported, founder Shayne Coplan faced pressure from investors demanding stronger management, subsequently bringing in several senior executives, including hiring former Amazon CFO Warren Jenson as its first CFO in September, and recruiting executives from Goldman Sachs, DoorDash, and Robinhood. Polymarket stated that the restructuring involved hiring, job adjustments, and layoffs as the business expanded and new management joined, but did not disclose specific numbers. Earlier this year, Polymarket launched a US-regulated trading platform in addition to its existing blockchain platform. https://wublock123.com/news/polymarket-restructures-cuts-staff-terminates-contractors-71777