Crypto.com plans to launch an internal market‑making team for its prediction markets offering

The role seeks a “quant trader” who will trade financial contracts based on the outcome of sports games.

A Crypto.com spokesperson told Bloomberg that the firm does not “rely on proprietary trading as a source of revenue,” and that its internal market maker “does not have access to proprietary data or customer order flow” before other participants.

Prediction market firms Kalshi and Polymarket also face similar criticism on potential conflicts of interest, given both firms use the services of professional market makers to facilitate trading on their platforms.

“Speaks to the liquidity problem. No other choice but to build internally,” commented Aaron Riccio, founder of prediction markets firm Sports Capital.

(Original comment: https://x.com/AaronRiccio8/status/2003549856770719785)