TECHINASIA · 2026-11-12 00:56 UTC

Polymarket cuts jobs as Kalshi takes prediction market lead

Polymarket, a New York-based prediction market operator, cut staff and ended some contractor relationships as it reorganizes after legal setbacks and ceding its lead to Kalshi. The company confirmed an email about a company-wide reduction in force this month was authentic but did not disclose how many employees or contractors were affected. Polymarket received CFTC approval in November 2025 for intermediated US market access and opened a US-regulated exchange earlier this year.

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