Polymarket is overhauling its marketing and building out its U.S. team ahead of fall events

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The prediction market platform hired a chief growth officer and four other senior officials as it prepares for the NFL season and midterm elections

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Polymarket is restructuring its marketing operation and adding senior executives as the prediction market platform prepares for an anticipated surge in trading activity this fall, according to CNBC.

Travis VanderZanden, who founded the e-scooter company Bird in 2017 and previously held roles at Uber $UBER Technologies and Lyft $LYFT, joined Polymarket as chief growth officer. VanderZanden will also oversee the company's marketing function, according to CNBC, citing a person familiar with the matter. "Shayne Coplan is the visionary of the prediction market space, and this is a massive market opportunity," VanderZanden said in a statement. "It's an exciting time to come in as we build out the executive team to help guide the next stage and make sure we're buttoned up for the long haul."

Four additional hires round out the executive expansion. Megan McGrath, who came from Robinhood, has taken on the role of chief compliance officer at Polymarket's U.S. exchange. Natalie Oblazny, a Coinbase alumna, is leading regulatory affairs for Polymarket's domestic platform. Shana Bautista, a former FBI official who also worked at Coinbase, joined as global head of investigations and intelligence. Paul Jordan, who came from Nasdaq $NDAQ, will serve as chief risk officer for Polymarket U.S.

The marketing restructuring follows scrutiny of Polymarket's promotional practices. The platform recruited creators to record simulated trades on counterfeit versions of its website, directing them to target American audiences despite Polymarket's prohibition from operating its main crypto exchange in the U.S. — the result of a 2022 Commodity Futures Trading Commission settlement. A Wall Street Journal investigation found that across more than 1,100 videos, every apparent wager — totaling roughly $1.9 million — was fabricated. The CFTC subsequently opened an investigation into the company's conduct.

Polymarket responded by reorganizing how its marketing department is run, revising the rules it sets for promotional partners, and running internal training to bring staff up to speed on those changes. Polymarket has also engaged AlixPartners, a management consulting firm, to review material posted by its promotional partners and ensure it meets the updated standards.

Prediction market platforms are counting on September's NFL kickoff and the approach of November's midterm elections to lift trading activity, which had slowed after the World Cup wrapped up in July.

Polymarket's U.S. exchange, which operates separately from its international market, debuted in May. The company is separately in early talks to raise about $1 billion at a valuation above $20 billion.

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