Update
Polymarket Lays Off Employees and Ends Contractor Deals
Polymarket has laid off employees and ended contractor agreements, primarily affecting marketing, customer experience, and engineering teams, as part of a restructuring for future growth. The company disputes claims of a 30% workforce reduction, stating that more than half of those affected were contractors, but has not disclosed the total number impacted. Despite layoffs, prediction markets are experiencing a surge in trading activity, with Polymarket and Kalshi accounting for 91% of a record $194.1 billion in trading volume during Q3 2026.