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Polymarket has hired senior veterans from Robinhood, Coinbase, and Nasdaq as it builds out its U.S. risk, compliance and regulatory teams ahead of what could be its biggest domestic test yet.
The hiring push matters because Polymarket is trying to expand its presence in the U.S. prediction markets industry while competing with Kalshi, the current leader in regulated prediction market trading. Growing interest in sports prediction markets ahead of the NFL season and increased political event trading ahead of the midterm elections could create significant opportunities for both platforms.
According to CNBC, former Nasdaq executive Paul Jordan has joined as chief risk officer, while former Robinhood executive Megan McGrath is now chief compliance officer. Coinbase alumni have also taken senior roles overseeing regulation and investigations.
Polymarket’s U.S. head Dan Lee previously described the company’s focus this way:
“Trust is the product we are building here.”
Polymarket expands compliance team after CFTC settlement
The expansion follows several years in which Polymarket operated outside the U.S. market after its 2022 settlement with the Commodity Futures Trading Commission over operating an unregistered derivatives platform.
The company is also tightening its marketing controls after renewed scrutiny. The Wall Street Journal reported that some creators were presented as successful traders even though they were not risking their own money, prompting a CFTC investigation.
In response, Polymarket has put chief growth officer Travis VanderZanden in charge of marketing, introduced new rules for promotional partners, retrained staff and brought in AlixPartners to monitor content.
Kalshi vs. Polymarket: Trading volume reaches record highs
The timing is notable because the prediction market sector hit a record $50.59 billion in trading volume in July across Kalshi, Polymarket and Polymarket U.S., according to The Block.
Kalshi accounted for about $37.7 billion of that total, underscoring the size of the lead Polymarket is trying to close in the U.S. market.
Pew Research Center data cited in the report also showed sports made up 80% of Kalshi’s volume since July 2024, compared with 39% at Polymarket. That makes the coming sports calendar especially important as both companies look for more activity.
Polymarket has also moved deeper into sports visibility. This month, it became the ATP’s official prediction market partner, including exclusive U.S. streaming rights in the category.
As competition between Polymarket and Kalshi intensifies, the race for dominance in U.S. prediction markets may depend as much on compliance and regulation as trading volume. With NFL prediction markets and election contracts expected to drive activity in the second half of the year, both companies are positioning themselves for a critical growth period.
