In accordance with Coindesk, prediction market platform Polymarket is hiring an internal market-making team to trade directly against customers, a move that could blur the line between prediction markets and traditional sportsbooks. The company has discussed the initiative with traders and bettors, following a similar strategy by rival Kalshi. Critics, including Rutgers University professor Harry Crane, argue the decision prioritizes revenue generation over product improvement and could lead to legal risks and reputational damage. Crane also warned that the strategy undermines Polymarket’s identity and trust, as it shifts toward a model where the platform competes with its users. The company did not immediately respond to requests for comment.
Polymarket Hires In-House Trading Team, Raising Legal and Ethical Concerns
CoinDeskShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.