BlockBeats news, on September 10, according to Bloomberg, the prediction market platform Polymarket has appointed its first Chief Financial Officer (CFO), Warren Jenson, a move seen as a significant step toward catching up with competitor Kalshi as the company seeks new investment and attempts to reignite growth.
Jenson officially joined Polymarket this week, having previously held senior finance roles at the media research company Nielsen and the marketing technology company LiveRamp. At 69 years old, Jenson brings decades of financial management experience, while Polymarket’s founder and CEO, Shayne Coplan, is 28.
Bloomberg noted that Polymarket has recently fallen behind its main competitor, Kalshi, prompting the company to seek new investment and revive its growth momentum. The appointment of its first CFO signals Polymarket’s further strengthening of its financial management system and preparation for subsequent fundraising and business expansion. Previously, Polymarket had secured substantial funding: in early September, 1789 Capital, led by Donald Trump Jr., co-led a round of financing worth approximately $1 billion, valuing Polymarket at around $21 billion post-transaction. Notably, Polymarket has continued expanding its operations, launching its social feature “Squads” on September 8, introducing group chat functionality to its prediction market.