Jump Trading to serve as Polymarket and Kalshi market maker in exchange for stake: Bloomberg
Jump Trading will provide market-making services to prediction markets Polymarket and Kalshi in exchange for equity stakes in both companies.Summary
According to a Bloomberg report citing anonymous sources, Jump Trading is set to become a market maker for the two largest prediction markets, Polymarket and Kalshi, in exchange for equity stakes. Jump will receive a set amount of equity in Kalshi and have the ability to increase its investment in Polymarket over time. Both Polymarket and Kalshi have seen significant growth, with valuations reaching $9 billion and $11 billion, respectively, benefiting from a more permissive regulatory environment from the U.S. Commodity Futures Trading Commission. Jump Trading is a major entity in crypto markets, known for its market-making activities and contributions to projects like the Solana client Firedancer and the Wormhole bridge, despite a previous setback following the collapse of Terra.
(Source：The Block)