Full-Time
Decentralized prediction market with crypto trading
No salary listed
New York, NY, USA
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Polymarket operates a decentralized prediction market where users trade crypto against outcomes of real-world events, from elections to sports. Bets are placed by buying and selling shares tied to event results; outcomes are resolved by decentralized oracles and rewards are paid in cryptocurrency. The platform blends a familiar trading interface with blockchain-based transparency and immutability, and it now operates in the U.S. through the acquisition of QCX, a CFTC-licensed exchange. Its goal is to offer hedging and speculative opportunities on real-world events while combining crowd-sourced forecasting with regulated crypto trading in the United States.
Company Size
201-500
Company Stage
Growth Equity (Venture Capital)
Total Funding
$3.9B
Headquarters
New York City, New York
Founded
2018
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Polymarket has launched Squads, a new social feature in its US app that allows friends to discuss markets, share predictions and trade together. Users can create private groups, chat within the app, share positions and see what other members are trading. The feature aims to consolidate conversations and trading activity in one place. "With Squads, we're bringing the conversation and trading together so friends can follow the events they care about and make their predictions in one place," said Travis VanderZanden, Polymarket's chief growth officer. Alongside the launch, Polymarket is debuting a football-season campaign directed by Peter Berg, featuring sports figures including LeBron James, Eli Manning and Derek Jeter. The launch follows Polymarket's recent introduction of Polymarket Perps for trading asset price movements.
LeBron James has announced a partnership with prediction market platform Polymarket through a 14-second video posted on social media. The basketball legend appeared at Polymarket's headquarters, with the post teasing a larger campaign focused on football expected to be detailed this week. James will join the Philadelphia 76ers for his 24th NBA season after signing a two-year contract reportedly worth $8 million, significantly less than his previous $50 million salary with the Los Angeles Lakers. NBA rules restrict players' financial interests in companies offering league-related wagering. The partnership adds James to a growing list of athletes working with prediction market platforms. Polymarket has already secured deals with Major League Soccer, Major League Baseball, and the National Hockey League, along with teams like the New York Yankees and Rangers.
Venture capital firm 1789 Capital is leading a new funding round for Polymarket that will give the prediction-markets platform a $21 billion post-money valuation.
Polymarket is prepared to monitor trading on its platform as US midterm elections approach, according to Shana Bautista, the company's new global head of investigations and intelligence. The former Coinbase analyst and FBI investigator said the prediction market has systems to identify anomalous activity. The company faces pressure from US lawmakers concerned about insider trading risks and potential threats to election integrity. Polymarket reached an enforcement settlement with US regulators in 2022 requiring it to bar American users from its international platform. Bautista said the company has referred over 100 cases to law enforcement. Polymarket is launching a new webpage detailing how it uses machine learning, blockchain analytics and trade surveillance to detect malicious activity.
Polymarket employs a former FBI officer to monitor its traders full-time, chief executive Shayne Coplan told US regulators on Thursday. Speaking at the Commodity Futures Trading Commission's Innovation Advisory Committee, Coplan said the staffer built custom surveillance software in-house. The company has handed 315 or more wallet records to authorities and made 90 or more account referrals, resulting in two arrests. In April, the CFTC charged Army Master Sgt. Gannon Ken Van Dyke, who made roughly $404,000. In May, Google engineer Michele Spagnuolo was charged over allegedly clearing about $1.2 million. Coplan defended the surveillance, saying Polymarket is "the least anonymous financial market of all time" because all activity is public and on-chain.