The post Galaxy Digital Targets $9B Prediction Market, Enters Liquidity Talks With Polymarket and Kalshi appeared on BitcoinEthereumNews.com. Galaxy Digital has begun plans to tap into the $9 billion prediction market. The firm is now in talks with Polymarket and Kaishhi as it looks to build its investment reach. Galaxy Digital Eyes Prediction Market Liquidity Push According to Bloomberg, Mike Novogratz’s firm is in active discussions with Polymarket and Kalshi about providing liquidity to their respective prediction markets. Novogratz revealed that the company has already started small-scale testing. They also expect to scale up if early results show strong traction. “We’re doing some small-scale experimenting with market-making on prediction markets, but I think you’ll eventually see us providing broader liquidity,” he said. By acting as a liquidity provider, the firm would place steady bids and offers. This would narrow spreads and improve overall market depth on both platforms. The move comes as the company increases visibility in public markets. Last May, Galaxy Digital completed its listing on Nasdaq under the ticker GLXY. This is particularly key given the expansion of the firm throughout the U.S. capital markets. Only a few Wall Street firms have publicly ventured into prediction markets. Susquehanna International Group has been one of a limited number of institutional liquidity providers on Kalshi. Also, Jump Trading has recently started trading more quietly on the platform. Growing Momentum in Prediction Markets Prediction markets lets traders to buy and sell binary contracts that are tagged to specific outcomes. Polymarket and Kalshi are the main market makers with a combined $42.4 billion in lifetime volume. Initially, Polymarket was top of the due to the coverage of political-event speculation. Since September, though, Kalshi has taken the lead in monthly trading activity. These platforms have recently attracted several high-profile partners. This includes Galaxy Digital, Google Finance, and even the National Hockey League. Both exchanges also run incentive programs aimed at attracting… The post Galaxy Digital Targets $9B Prediction Market, Enters Liquidity Talks With Polymarket and Kalshi appeared on BitcoinEthereumNews.com. Galaxy Digital has begun plans to tap into the $9 billion prediction market. The firm is now in talks with Polymarket and Kaishhi as it looks to build its investment reach. Galaxy Digital Eyes Prediction Market Liquidity Push According to Bloomberg, Mike Novogratz’s firm is in active discussions with Polymarket and Kalshi about providing liquidity to their respective prediction markets. Novogratz revealed that the company has already started small-scale testing. They also expect to scale up if early results show strong traction. “We’re doing some small-scale experimenting with market-making on prediction markets, but I think you’ll eventually see us providing broader liquidity,” he said. By acting as a liquidity provider, the firm would place steady bids and offers. This would narrow spreads and improve overall market depth on both platforms. The move comes as the company increases visibility in public markets. Last May, Galaxy Digital completed its listing on Nasdaq under the ticker GLXY. This is particularly key given the expansion of the firm throughout the U.S. capital markets. Only a few Wall Street firms have publicly ventured into prediction markets. Susquehanna International Group has been one of a limited number of institutional liquidity providers on Kalshi. Also, Jump Trading has recently started trading more quietly on the platform. Growing Momentum in Prediction Markets Prediction markets lets traders to buy and sell binary contracts that are tagged to specific outcomes. Polymarket and Kalshi are the main market makers with a combined $42.4 billion in lifetime volume. Initially, Polymarket was top of the due to the coverage of political-event speculation. Since September, though, Kalshi has taken the lead in monthly trading activity. These platforms have recently attracted several high-profile partners. This includes Galaxy Digital, Google Finance, and even the National Hockey League. Both exchanges also run incentive programs aimed at attracting…

Galaxy Digital Targets $9B Prediction Market, Enters Liquidity Talks With Polymarket and Kalshi

2 min read

Galaxy Digital has begun plans to tap into the $9 billion prediction market. The firm is now in talks with Polymarket and Kaishhi as it looks to build its investment reach.

Galaxy Digital Eyes Prediction Market Liquidity Push

According to Bloomberg, Mike Novogratz’s firm is in active discussions with Polymarket and Kalshi about providing liquidity to their respective prediction markets. Novogratz revealed that the company has already started small-scale testing. They also expect to scale up if early results show strong traction.

By acting as a liquidity provider, the firm would place steady bids and offers. This would narrow spreads and improve overall market depth on both platforms.

The move comes as the company increases visibility in public markets. Last May, Galaxy Digital completed its listing on Nasdaq under the ticker GLXY. This is particularly key given the expansion of the firm throughout the U.S. capital markets.

Only a few Wall Street firms have publicly ventured into prediction markets. Susquehanna International Group has been one of a limited number of institutional liquidity providers on Kalshi. Also, Jump Trading has recently started trading more quietly on the platform.

Growing Momentum in Prediction Markets

Prediction markets lets traders to buy and sell binary contracts that are tagged to specific outcomes. Polymarket and Kalshi are the main market makers with a combined $42.4 billion in lifetime volume. Initially, Polymarket was top of the due to the coverage of political-event speculation. Since September, though, Kalshi has taken the lead in monthly trading activity.

These platforms have recently attracted several high-profile partners. This includes Galaxy Digital, Google Finance, and even the National Hockey League.

Both exchanges also run incentive programs aimed at attracting more professional market makers. This ensures that there is always liquidity for the users making trades.

To add, Polymarket recently received backing from Intercontinental Exchange in a deal worth as much as $2 billion. The investment values the prediction market platform at about $9 billion post-funding. It shows ICE’s goal to push the market into finance systems.

Meanwhile, Trump Media & Technology Group teamed up with Crypto.com to launch “Truth Predict.” This shows that there is a strong interest in trading based on events in the political world.

Source: https://coingape.com/galaxy-digital-targets-9b-prediction-market-enters-liquidity-talks-with-polymarket-and-kalshi/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

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