Crypto.com is hiring quantitative traders to build a market-making team and expand into the sports prediction market

According to financefeeds, Crypto.com is forming an internal market-making team to expand its prediction market business, hiring quantitative traders to handle the buying and selling of contracts related to sports event outcomes.

Crypto.com responded that the trading team operates within the U.S. regulatory framework and has disclosed this to the CFTC, primarily providing liquidity support for North American derivatives business rather than engaging in proprietary trading for profit. The company emphasized that both internal and external market makers operate under the same rules, and the internal team does not have order flow priority or customer data advantages.

This model is not unique in the prediction market. Kalshi uses designated market makers to support trading, and Polymarket is also building internal market-making capabilities. Prediction markets require continuous liquidity to function, but the establishment of in-house market-making teams raises concerns about conflicts of interest, with the key issue being how to handle transparency, data access, and information disclosure.