Prediction market platform Polymarket has reduced its workforce as part of a wider reorganization, while reporting that its annualized revenue has topped $1.8 billion.
Polymarket laid off some full-time employees last week and has significantly reduced the number of contractors it works with, particularly in marketing, according to Front Office Sports.
However, sources told the outlet that social media posts claiming around 30% of its workforce had been cut were inaccurate.
A company spokesperson said Polymarket had reorganized following new leadership hires “to set the company up for its next phase of growth,” with two sources saying the move is aimed at professionalizing the company ahead of a potential IPO as soon as 2027.
