Polymarket Undergoes Executive Overhaul Amid Growth Pressures

Polymarket has hired four key executives in over a month, including former Zora CEO Jacob Horne, to bolster its product, growth, and operations. This leadership shift follows a significant decline in trading volume and active users after the World Cup, alongside increased competition from Kalshi. The company is also addressing technical debt in its DeFi products and facing heightened regulatory scrutiny in the U.S. market, while preparing for a potential new funding round that could value the platform at approximately $21 billion.