Key highlights:
- Ex-Zora CEO Jacob Horne has joined Polymarket to rebuild Polymarket DeFi and its onchain product
- CEO Shayne Coplan acknowledged that Polymarket’s onchain product has waned as the company expanded its US business
- The move comes alongside a broader infrastructure overhaul, including a rewrite of Polymarket’s trading engine in Rust to improve performance
Polymarket has hired former Zora CEO Jacob Horne to rebuild its onchain product as the prediction-market platform looks to strengthen its crypto-native offering. CEO Shayne Coplan said Horne will work directly with him on the product, with a particular focus on “making Polymarket DeFi great again.”
Polymarket brings in Zora veteran for its DeFi product
Horne joins Polymarket after more than six years at Zora, where he served as CEO and helped build the creator-focused onchain platform. Coplan
Polymarket operates separate products for its crypto-native and US markets. Its global onchain venue settles markets on Polygon, while its US business operates through a CFTC-regulated exchange following the company’s acquisition of QCEX.
Coplan added that Polymarket is working behind the scenes to unify its products rather than abandoning the onchain side. He also invited users to send feedback directly to him or Horne while the company develops its roadmap.
Polymarket is also rebuilding its trading infrastructure
The product push comes as Polymarket works on a separate overhaul of its trading infrastructure. Josh Stevens, the company’s vice president on DeFi engineering, said its existing central limit order book has accumulated significant technical debt and is not a viable long-term foundation.
The company is rewriting its matching engine in Rust while keeping the current system operational. Early benchmarks indicate the new system can improve order-processing performance, although Polymarket has not announced specific changes to fees, liquidity or trade routing tied to Horne’s appointment.
Amid the gale of improvements to the product, Polymarket is having a hard time on the regulatory front. Back in July, Czech Republic added Polymarket to its national list of unauthorized online gambling platforms, ordering internet service providers to block access.
Meanwhile, 18 Polymarket users are facing legal action in South Korea over allegations of illegal gambling and $12.7 million in combined wagers. The specter of legal battle with US state regulators looms ahead for Polymarket and Kalshi amid surging volumes on both platforms.
Source:: Polymarket Hires Ex-Zora CEO to Make Polymarket DeFi ‘Great Again’