Citing Insidebitcoins, Polymarket is recruiting for an internal market-making team that could trade against its users, according to a Bloomberg report. The platform has approached traders, including sports bettors, to join the team, which would allow Polymarket to take the opposite side of customer positions. This move comes as the company re-enters the US market after being forced out in 2022 following a $1.4 million civil penalty from the CFTC. Kalshi, Polymarket’s main rival, already operates a similar model, which has drawn user criticism and a proposed class-action lawsuit.
Polymarket Builds In-House Market-Making Team Amid US Market Re-Entry
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