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Digital asset funding supervisor Galaxy Digital is in discussions to offer liquidity to prediction markets Polymarket and Kalshi.
In an interview with Bloomberg, the agency’s CEO Mike Novogratz mentioned it’s already collaborating in “small-scale” experiments with market making on the prediction markets, including that it intends to offer “broader liquidity” on these platforms sooner or later.
By appearing as a liquidity supplier and market maker, Galaxy Digital would place regular bids and affords in an effort to slender spreads within the platforms’ order books. It’ll additionally enhance the general depth on every platform.
Just a few Wall Road corporations have publicly ventured into prediction markets. Susquehanna Worldwide Group has been one in every of a restricted variety of institutional liquidity suppliers on Kalshi and Leap Buying and selling has additionally lately began buying and selling on the platform.
Galaxy Digital’s Transfer Comes As Prediction Markets Achieve Steam
Prediction markets enable merchants to wager on real-life occasions. These occasions can vary from sport outcomes, political selections, timelines, and extra. Customers commerce these occasions by way of easy sure or no contracts, with contract costs exhibiting the market-implied chance of every final result.
Polymarket house display (Supply: Polymarket)
At present main the market are Polymarket and Kalshi, which have collectively seen $42.4 billion in cumulative quantity.
The platforms gained momentum throughout the 2024 US presidential election, after Polymarket accurately predicted the end result of the elections.
Kalshi Challenges Polymarket’s Dominance
Polymarket is a decentralization-focused platform that originally led the house, however is now seeing its dominance challenged by Kalshi, which is regulated by the US Commodity Futures Buying and selling Fee (CFTC).
Since September, Kalshi has seen extra month-to-month quantity than Polymarket.
However that lead might quickly be challenged with Polymarket getting ready for a US launch. It acquired QCX, a US-licensed derivatives trade and clearing home, for round $112 million in July, giving it a regulated platform to re-enter the US. It has acquired a “inexperienced mild” from the CFTC to return to the US.
Polymarket has began rolling out its platform to a choose group of US customers in beta mode and there are studies it’s aiming for a late November rollout, initially give attention to sports activities prediction markets.
Polymarket lately signed a multi-year partnership with TKO Group Holdings, which is the proprietor of UFC and Zuffa Boxing, to develop into its “Official and Unique Prediction Market Associate” for stay fan engagement.
In the meantime, Intercontinental Trade (ICE), which is the proprietor of the New York Inventory Trade, has made a $2 billion strategic funding in Polymarket and the 2 additionally entered right into a deal that may see ICE distribute Polymarket’s information.
We’re excited to announce that Intercontinental Trade (ICE) — the dad or mum firm of @NYSE, is making a $2b strategic funding at a $9b post-money valuation.
Collectively, we’re constructing the subsequent evolution of markets.
A particular thanks to all those that have supported us… pic.twitter.com/y7Z3koj3IU
— Polymarket (@Polymarket) October 7, 2025
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