Polymarket is strengthening its institutional strategy by bringing in Lisa Mantil, a veteran of Goldman Sachs, as the prediction-market operator seeks deeper participation from Wall Street traders. The appointment comes as prediction markets increasingly move toward financial-market infrastructure, while regulators and traditional exchanges continue to assess the implications for liquidity, investor protection and market oversight.

Goldman Sachs Experience Comes Into Focus

Mantil spent nearly three decades at Goldman Sachs, where she held senior positions across securities and electronic trading distribution before becoming global head of the firm’s ETF Accelerator. Goldman has previously described the platform as a service designed to help asset managers launch, list and manage ETFs, including providing portfolio implementation and capital-markets capabilities.

Her background is particularly relevant to Polymarket’s institutional ambitions because attracting professional liquidity requires more than simply increasing the number of retail participants. Deep order books, reliable execution, market-making participation and infrastructure capable of handling larger transactions can become increasingly important as a trading venue moves toward a more institutional user base.

Prediction Markets Move Closer to Financial Markets

Polymarket’s expansion comes as prediction markets increasingly offer contracts linked to economic, financial and political outcomes. Its U.S. operation is registered with the Commodity Futures Trading Commission as a designated contract market, and a March 2026 filing described an incentive program intended to increase volume and liquidity on its central limit order book.

The broader market is also evolving beyond traditional event contracts. Reuters reported this week that Polymarket and competing platforms have expanded into contracts connected with individual stocks and corporate events, with more than $220 million traded in equity-linked prediction markets on Polymarket. That development brings the platforms closer to conventional financial markets but also raises questions about whether certain products could fall within securities or derivatives regulation.

Regulation Remains a Key Variable

The institutional opportunity is unfolding alongside significant regulatory uncertainty. New York filed a lawsuit against Polymarket on September 24, alleging that its U.S. operation constitutes unlicensed gambling, while Polymarket has argued that its federally regulated market structure distinguishes it from conventional gambling businesses.

Legal uncertainty extends across the broader prediction-market industry. A U.S. appeals court ruled on September 25 that Ohio and Tennessee could regulate rival Kalshi under state gambling laws, creating additional uncertainty over the division between federal derivatives oversight and state-level regulation.

Looking ahead, Mantil’s role will likely be measured by whether Polymarket can translate institutional relationships into deeper and more consistent liquidity. For professional investors, the development is significant less as a standalone growth story than as part of the broader convergence between prediction markets and financial-market infrastructure. Execution quality, contract depth, regulatory clarity and investor-protection standards will remain important variables. For Israeli and global market participants monitoring the sector, the key question will be whether institutional adoption can develop alongside a sufficiently clear regulatory framework without increasing operational, legal or market-structure risks.