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Polymarket CEO: Currently operating at a loss, expanding market share is the top priority
On December 9, Polymarket CEO Shayne Coplan stated in an interview with AXIOS that Polymarket is currently operating at a loss. “It’s not that we don’t like money, but our priority is to create an entirely new market. We want to grow this market as much as possible, and capturing as much market share as we can is our top priority. Every prediction market actually has a spread, similar to sports betting—users may not pay an explicit fee, but they do pay the spread. However, on the Polymarket platform, the spread is not taken by the platform itself, but is distributed to those users who provide liquidity, and is earned by the order placers.”