Crypto.com is hiring an internal market maker for its prediction markets, saying the move complies with regulations and aims to boost liquidity amid scrutiny.
Cryptocurrency exchange Crypto.com is building an internal market-making team as part of its expansion into prediction markets, a move the company says is fully aligned with federal regulations and intended to improve liquidity, even as market-making in outcome-based trading continues to draw scrutiny.
Bloomberg reported Tuesday that the exchange is recruiting for a new role on its market-making desk, citing a job posting for a “quant trader” who would help buy and sell contracts tied to the outcomes of sporting events on Crypto.com’s prediction platform.
The report has drawn attention to the practice of exchanges facilitating trading against customer orders, a structure that can raise questions about conflicts of interest as prediction markets gain traction across both crypto and traditional finance.
