Polymarket CEO says firm is operating at a loss to prioritize market expansion

Shayne Coplan, CEO of the prediction market platform Polymarket, said in an interview with Axios that the company is currently operating at a loss. He explained that while Polymarket is not averse to making money, its priority is creating new markets. Coplan stated that the most important goal at present is to grow the prediction market as much as possible and secure maximum market share. He added that prediction markets have spreads similar to those in sports betting, and Polymarket redistributes the spreads paid by users to those who provide liquidity.