Polymarket plans to use in-house market maker to trade against users: Report

Polymarket is reportedly recruiting staff for an internal market-making team that intends to trade against users on its platform, according to sources cited by Bloomberg. This move follows Polymarket's expansion in the US after resolving a 2022 regulatory case with the Commodity Futures Trading Commission (CFTC). A competitor, Kalshi, already uses an internal unit, Kalshi Trading, which has faced criticism from some users alleging it sets disadvantageous betting lines. Despite this, Coinbase CEO Brian Armstrong suggested that internal trading desks could potentially strengthen prediction markets' accuracy by incorporating high-quality information. However, BlackRock CEO Larry Fink expressed skepticism about the focus of prediction markets on short-term outcomes.

(Source：Cointelegraph)