The prediction-market operator has in the meantime reported rising income regardless of trailing rival Kalshi in buying and selling quantity. Polymarket informed CNBC on Nov. 10 that its annualized income had surpassed $1.8 billion, up from a tempo above $1 billion disclosed in June. As The Defiant beforehand reported, that’s an annualized tempo, not income earned over a accomplished 12 months.
A contractor termination discover quoted by Entrance Workplace Sports activities set Nov. 4 as its efficient date and described a “company-wide discount in drive.” Bloomberg stated Polymarket confirmed that the e-mail was authentic.
The personnel adjustments embrace the alternative of former chief advertising officer Matthew Modabber by chief progress officer Travis VanderZanden, a former Uber government, Entrance Workplace Sports activities reported.
Kalshi’s Buying and selling Lead
Predicted’s third-quarter comparability places Kalshi properly forward of Polymarket’s U.S. and worldwide venues in notional buying and selling quantity.
Q3 2026 Notional Buying and selling Quantity
Supply: data_source (predicted.co). Interval: Q3 2026. Chosen venues, July–September 2026. Notional turnover shouldn’t be firm income. Supply: Predicted. (supply)
Predicted attributed Kalshi’s more-than-doubling of quarterly quantity to parlays, or multi-leg bets. Polymarket’s U.S. quantity rose to 2.4 instances its second-quarter stage, whereas its worldwide quantity fell 36%, in keeping with the report. The quantity comparability shouldn’t be a measure of firm income.
The reorganization additionally follows operational disruptions. On Oct. 29, Polymarket stated it had quickly halted worldwide buying and selling after a third-party supplier was compromised. It stated buying and selling resumed later that day and pledged to reimburse affected merchants, as The Defiant reported.
That adopted a June vendor compromise through which Polymarket stated malicious code had been injected into its web site. The corporate stated it had eliminated the affected software program and would refund impacted customers.
