Polymarket, a prediction market platform with a headquarters presence in Panama, named Warren Jenson CFO as it pushes to expand globally and in the US after losing trading share to rival Kalshi.

Jenson previously served as finance chief at Amazon, Delta Air Lines, Electronic Arts, and Nielsen.

Earlier this year, Polymarket also hired former Uber executive Travis VanderZanden as chief growth officer.

Piper Sandler said trading volume across Kalshi and Polymarket reached US$48.4 billion in August. Kalshi accounted for $40 billion of that total.

Polymarket faces a more complicated US path after the Commodity Futures Trading Commission ordered it in 2022 to wind down noncompliant event markets and stop offering them to US users unless compliant.

Kalshi, by contrast, is regulated by the agency as a designated contract market.

The appointment also comes amid reports that Polymarket is seeking fresh capital at a valuation of more than US$20 billion.

🔗 Source: Reuters

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