Polymarket hires Goldman Sachs veteran to target institutional markets

Polymarket has appointed Lisa Mantil, a former Goldman Sachs partner with nearly 30 years of experience, as its Head of Institutional Growth. The move is part of an aggressive recruitment strategy to attract Wall Street liquidity and transform the prediction market platform from a retail-focused betting site into a sophisticated tool for institutional risk management and trading.

Mantil previously led Goldman Sachs’ ETF Accelerator, helping asset managers launch and structure investment products. At Polymarket, she will focus on developing products, infrastructure, and liquidity tailored for hedge funds, banks, and trading firms. This follows the recent appointment of former Amazon finance chief Warren Jenson as CFO, signaling a broader shift toward traditional financial standards.

Despite this expansion, Polymarket faces significant regulatory hurdles. While its US-based entity, PolymarketUS, operates as a CFTC-designated contract market, the platform is currently facing legal challenges in New York. The New York Attorney General has filed a lawsuit alleging the platform provides unlicensed gambling services, highlighting a conflict between federal regulation and state-level gambling laws.