Crypto.com is hiring quantitative traders to provide liquidity for the sports prediction market.

Odaily Planet Daily reports that Crypto.com recently posted a job advertisement for a "Quantitative Trader," aiming to build a market-making team for its sports prediction market exchange. This position aims to optimize liquidity by buying and selling financial contracts linked to sports game outcomes, while maximizing profits while managing risk.

A Crypto.com spokesperson stated that its internal market makers do not rely on proprietary trading for revenue and do not have access to private data or client order flows before other participants. Currently, prediction market platforms such as Kalshi and Polymarket have or are building internal market-making departments. Furthermore, a Crypto.com rule allows sports contract market makers to receive trade responses 3 seconds earlier than retail investors, sparking industry discussion about conflicts of interest and whether prediction markets are trending towards traditional betting. This internal trading team operates across all derivatives on its US platform and has been fully disclosed to the US Commodity Futures Trading Commission (CFTC). (Bloomberg)