Galaxy Digital Explores Prediction Markets Through Talks with Polymarket and Kalshi
Mike Novogratz's Galaxy Digital is making waves in the crypto industry with its potential entry into prediction markets. The firm has confirmed discussions with Polymarket and Kalshi about becoming a liquidity provider, signaling growing institutional interest in event-driven trading.
Polymarket operates as a decentralized, blockchain-based platform where users trade on future events using USDC on Polygon. Its simple "yes/no" share system contrasts with Kalshi's regulated, USD-settled contracts under CFTC oversight. While Polymarket remains inaccessible to U.S. users since 2022, Kalshi offers a traditional exchange experience with tax reporting.
Galaxy Digital's small-scale market-making experiments hint at strategic expansion into this niche. The MOVE reflects broader institutional curiosity about prediction markets as crypto and traditional finance converge.