Prediction-market platform Polymarket has laid off some full-time employees and ended contracts with several contractors as part of a broad reorganization, Bloomberg reported on Nov. 11, citing sources and a company statement. The staffing changes come as the once-largest prediction platform has ceded market leadership to rival Kalshi and faced legal issues on several fronts, according to the report.

A screenshot of a Polymarket email circulated on X last week, stating that some contractors would be let go this month as part of a “companywide workforce reduction.” Polymarket confirmed that the email was authentic.

The company said the reorganization was part of preparations for its next stage of development and was tied to its growth and the arrival of new leadership. Polymarket said the changes included new hires, internal reshuffles and layoffs affecting some employees.

Polymarket did not disclose the number of positions eliminated.

Investor pressure and new leadership

Bloomberg reported in October that Polymarket founder Shayne Coplan faced pressure from investors who wanted the company to put its operations in order. The firm responded by hiring several senior executives.

October security incident

In late October 2026, Polymarket was hit by a security incident in which attackers siphoned more than $2.6 million from users’ accounts.

Disclaimer: This material is for informational purposes only and is not an advertisement for gambling or a call to participate in it. Polymarket is mentioned solely as part of a review of the digital asset market and is not intended to popularize or promote the platform.

Source: Incrypted