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Polymarket is currently recruiting new team members to establish an internal market-making team.
BlockBeats News, December 4th, according to Bloomberg, Polymarket is currently hiring new team members to establish an internal market-making team, which may engage in trading with customers on the company's trading platform. Although similar functionality has previously led to criticism of its main competitors. Sources revealed that the company has recently been in talks with several traders, including sports betting traders, to invite them to join this new department. Polymarket declined to comment on this.
However, Kalshi has already been operating a department called Kalshi Trading, providing quotes on the trading platform and effectively acting as a counterparty to some customer trades. Although Kalshi executives claim that this department is meant to increase liquidity and improve the customer experience, critics argue that its market-making efforts create a conflict of interest with customers, making it resemble a traditional sports betting company. A proposed class-action lawsuit filed last month alleged that the odds set by Kalshi Trading were unfavorable to customers.
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