Galaxy Digital in talks to participate as liquidity provider for Polymarket and Kalshi…expanding into prediction markets
Summary
- Galaxy Digital is reportedly discussing participating as a liquidity provider for decentralized prediction market platforms Polymarket and Kalshi.
- It said that if it takes on the role of a market maker, it will provide regular quotes to prediction market platforms to strengthen liquidity.
- It is expected that if a large market maker fully participates in prediction markets, it will affect trading efficiency improvements and expanded institutional participation.
Galaxy Digital is reportedly in discussions to participate as a market maker for decentralized prediction market platforms.
On the 25th (local time), Bloomberg reported that Galaxy Digital is negotiating to participate as a liquidity provider for decentralized prediction market platforms Polymarket and Kalshi.
Mike Novogratz, CEO of Galaxy Digital, told Bloomberg, "Galaxy Digital has focused on building virtual asset (cryptocurrency) infrastructure for institutions," and "If it takes on the role of a market maker, it will strengthen liquidity by providing regular quotes to prediction market platforms."
Novogratz said they are currently conducting small-scale market making tests and that, in the long term, they would expand to supply broader liquidity. If large market makers fully enter prediction markets, it is expected to affect improvements in trading efficiency and expanded institutional participation.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
