TheBlock
Polymarket has hired Travis VanderZanden, founder of electric-scooter startup Bird and a former growth executive at Uber and Lyft, as its chief growth officer, CEO Shayne Coplan announced Wednesday. Coplan framed the hire as a return to blitzscaling, a playbook VanderZanden previously ran under Uber's Travis Kalanick and later at Yammer under David Sacks. 'When it comes to growing marketplaces, nobody does it better,' Coplan wrote. 'This time with software instead of hardware. Welcome to the team.'
Why it matters
Polymarket is bringing in a heavy-growth operator at the moment its main rival is pulling away. In July, Polymarket and Polymarket US posted a combined $12.9 billion in volume versus Kalshi's $40 billion, and Polymarket's monthly active trader count has held roughly flat while Kalshi's sports betting markets continue to attract new users. The competitive gap has shown up in fundraising: Polymarket is reportedly raising at a $20 billion-plus valuation, while Kalshi is targeting $40 billion. Established crypto exchanges Coinbase, Crypto.com and Gemini have begun expanding into event contracts, and apps like DraftKings and Robinhood are scaling prediction-style offerings of their own, putting the early prediction-market leaders under pressure from both regulated incumbents and adjacent consumer platforms.
Market impact
The competitive backdrop is also a regulatory one. Dozens of state and international lawsuits argue that prediction-market apps violate local gambling laws, and on Wednesday the New York City Council announced a probe into four prediction-market platforms over marketing tactics allegedly aimed at younger users. The CFTC has sided with federally-licensed Designated Contract Markets, backing platforms with the right paperwork over the offshore pushback. For Polymarket, adding a growth architect of VanderZanden's pedigree is a signal that the next phase of the fight with Kalshi will be won or lost on user acquisition, not on liquidity.
Frequently asked questions
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Why did Polymarket hire Travis VanderZanden?
CEO Shayne Coplan announced Wednesday that the Bird founder and ex-Uber growth exec joins as chief growth officer, framing the move as a blitzscaling play to widen Polymarket's marketplace reach.
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What is Travis VanderZanden's background?
He founded Bird, the electric scooter startup, and previously led growth at Uber under Travis Kalanick and served as CRO of Yammer under David Sacks. He also held an earlier role at Lyft.
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How does Polymarket's volume compare to Kalshi's?
In July, Polymarket and Polymarket US posted a combined $12.9 billion in volume versus Kalshi's $40 billion, with Polymarket's monthly active trader count holding flat while Kalshi's sports betting markets kept pulling in users.
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Which new competitors are entering prediction markets?
Coinbase, Crypto.com and Gemini have begun expanding into event contracts, while consumer apps DraftKings and Robinhood are scaling prediction-style offerings alongside the early lead-in players Polymarket and Kalshi.
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What regulatory pressure do prediction markets face?
Dozens of state and international lawsuits argue the apps violate local gambling laws, the NYC Council opened a probe into four platforms on Wednesday, and the CFTC has backed federally-licensed Designated Contract Markets against offshore pushback.
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