Polymarket hires Bird founder Travis VanderZanden as chief growth officer

Polymarket has hired Bird founder and former Uber and Lyft executive Travis VanderZanden as chief growth officer, CEO Shayne Coplan announced Wednesday.

VanderZanden will lead growth at the prediction-market platform after holding growth roles at Uber and serving as chief revenue officer at Yammer. He later founded and led electric scooter-sharing company Bird.

Bird, Uber, and Lyft were associated with the “blitzscaling” strategy of using large amounts of venture capital to fund rapid expansion while competing for market share.

“When it comes to growing marketplaces, nobody does it better,” Coplan wrote in announcing the appointment. “This time with software instead of hardware. Welcome to the team.”

The hire comes as Polymarket trails rival Kalshi in trading activity. Polymarket and Polymarket US recorded a combined $12.9 billion in volume in July, compared with $40 billion for Kalshi, according to The Block’s data. 

Kalshi’s growth has been driven largely by sports markets, while the number of active Polymarket traders has remained relatively flat.

Competition is also increasing as Coinbase, Crypto.com, and Gemini expand into event markets. DraftKings and Robinhood have also reported strong growth in their prediction-market offerings.

Both leading platforms are seeking additional capital. Polymarket was reportedly in talks last week to raise funding at a valuation above $20 billion, while Kalshi is targeting a $40 billion valuation.

Prediction markets are also facing legal and regulatory challenges. States and some countries have filed dozens of lawsuits alleging that platforms including Polymarket and Kalshi violate local gambling laws.

The New York City Council opened a probe Wednesday into four prediction-market platforms over marketing tactics allegedly targeting younger users. The Commodity Futures Trading Commission has supported federally regulated platforms operating with the appropriate licenses.