Polymarket has appointed Travis VanderZanden as chief growth officer, CEO Shayne Coplan announced on Wednesday. VanderZanden is the founder of electric scooter company Bird and previously held executive roles at Lyft and Uber. His background is closely tied to the “blitzscaling” model, in which startups use large amounts of venture capital to expand rapidly, acquire users, and capture market share ahead of competitors.
Coplan framed the hire as a move to bring marketplace-growth experience to Polymarket’s next phase. “When it comes to growing marketplaces, nobody does it better. This time with software instead of hardware. Welcome to the team,” Coplan wrote.
The appointment comes as Polymarket faces intensifying competition. Polymarket and rival Kalshi grew at similar rates during the early prediction market expansion, but Kalshi has since pulled ahead. In July, Polymarket and Polymarket US recorded a combined $12.9 billion in monthly volume, compared with about $40 billion for Kalshi, according to market data. Active trader numbers on Polymarket have also remained relatively flat.
Competition is widening beyond direct prediction market platforms. Coinbase, Crypto.com, and Gemini have expanded into event markets, while DraftKings and Robinhood have reported rapid growth in related offerings. Established exchanges and brokerages can offer event contracts to customers who already hold assets with them, increasing pressure on standalone platforms to fund new user acquisition.
Both Polymarket and Kalshi have raised substantial capital to support growth. Polymarket was recently reported to be in talks for a new round targeting a valuation above $20 billion, while Kalshi has been seeking a valuation of about $40 billion.
At the same time, regulatory scrutiny is increasing. Dozens of lawsuits have been filed by states and some countries arguing that platforms like Polymarket and Kalshi violate local gambling laws. On Wednesday, the New York City Council announced an investigation into four prediction market platforms over marketing tactics allegedly targeting younger people. The Commodity Futures Trading Commission has defended the authority of federally regulated designated contract markets operating with appropriate licenses.
