Person
Founder and CEO of Polymarket, a prediction market platform where users bet on real-world event outcomes.
Polymarket is weighing an IPO and a native token as routes to capital, Bloomberg reported, with valuation talks reportedly above $20 billion. Its spending so far points toward equity, and neither route has a timetable.
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Polymarket, valued at about $21 billion, hired ex-Goldman partner Lisa Mantil to bring big traders onto its US exchange. She starts selling while federal investigators, House members and New York officials still dispute how its contracts should be policed.
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JPMorgan ended Polymarket's primary banking relationship over regulatory risk in October, around the time ICE put an initial $1 billion in at a roughly $8 billion valuation.
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Polymarket has hired Warren Jenson, formerly finance chief at Amazon, Delta Air Lines and Nielsen, to set capital strategy for a business now marked at about $21bn with no revenue figure attached to it.
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The Wall Street Journal reported that Checkout.com blocked most Polymarket US card deposits at February's peak, and the controls that pulled fraud back to normal by May were a cap on cards per account and an outside vendor.
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According to the Wall Street Journal, nearly 500 Polymarket US accounts were entered by people who typed in someone else's Social Security number. The flow's duplicate-identity check opened the account it matched instead of blocking the attempt.
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A Kalshi spokesperson gave WIRED that figure while arguing the informational use of its odds is the popular one. Both exchanges are now licensing those odds to large media companies with the legal fight over what they are unresolved.
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Polymarket's daily dispatch summarises the day's news and links out to its own yes/no markets, part of a broader push by prediction markets into publishing. Kalshi says three out of four of its users never trade.
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Warren Jenson, who has been finance chief at Amazon, Delta Air Lines and Electronic Arts, takes over capital strategy at a company that has published no audited numbers and paid $112m for its way back into the United States.
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