Overview
- Bloomberg reports Polymarket has been recruiting traders and sports bettors for a market-making unit that would take the other side of customer bets and price parlay wagers through an RFQ system.
- Polymarket recently regained CFTC approval to operate in the U.S. after a 2022 fine, yet it has not disclosed launch plans for the desk and declined to comment to reporters.
- The push is viewed as a monetization effort because the platform does not charge trading fees and reportedly holds a $9 billion valuation following a $2 billion Intercontinental Exchange investment.
- Experts warn an internal desk could compromise perceived neutrality and create information advantages over users, citing Kalshi’s similar model and a proposed class-action challenging its practices.
- Liquidity firms such as Jump Trading and Susquehanna already operate on these markets and Galaxy Digital has held talks, while Coinbase’s Brian Armstrong contends trading desks could enhance predictive accuracy.