Polymarket Taps Goldman Sachs Vet to Drive Institutional Growth Amid Rising Prediction Market Valuations
Polymarket has bolstered its institutional growth strategy by appointing Lisa Mantil, a veteran of Goldman Sachs, to lead the charge. With nearly three decades under her belt at the bank, including serving as a partner since 2018, Mantil brings extensive experience in asset management to Polymarket.
In her new role, Mantil will focus on attracting non-retail clients such as banks, corporate entities, fund managers, and trading firms. This move comes as prediction market valuations surge and operators seek to reduce their reliance on retail bettors amidst rising legal risks surrounding sports contracts.
Polymarket's hiring of Mantil signals a shift towards professional markets over retail volume, according to SCCG Management. The company has already made strides in this area by launching Polymarket Institutional Research in July and completing its first institutional block trade in June, a six-figure GPU transaction tied to AI compute.
Mantil's appointment is significant as it prepares Polymarket for possible Supreme Court limits on sports derivatives. The company believes that institutional access will open new markets, bring in new participants, and provide capital with a direct way to hedge risks that previously lacked dedicated markets.