Galaxy Digital To Offer Liquidity To Polymarket, Kalshi

Digital asset funding supervisor Galaxy Digital is in discussions to offer liquidity to prediction markets Polymarket and Kalshi.

In an interview with Bloomberg, the agency’s CEO Mike Novogratz stated it’s already collaborating in “small-scale” experiments with market making on the prediction markets, including that it intends to offer “broader liquidity” on these platforms sooner or later. 

By performing as a liquidity supplier and market maker, Galaxy Digital would place regular bids and affords with the intention to slender spreads within the platforms’ order books. It is going to additionally enhance the general depth on every platform. 

Only some Wall Road corporations have publicly ventured into prediction markets. Susquehanna Worldwide Group has been one in every of a restricted variety of institutional liquidity suppliers on Kalshi and Soar Buying and selling has additionally not too long ago began buying and selling on the platform. 

Galaxy Digital’s Transfer Comes As Prediction Markets Achieve Steam

Prediction markets enable merchants to wager on real-life occasions. These occasions can vary from sport outcomes, political selections, timelines, and extra. Customers commerce these occasions through easy sure or no contracts, with contract costs exhibiting the market-implied chance of every consequence.  

Polymarket residence display screen (Supply: Polymarket)

At present main the market are Polymarket and Kalshi, which have collectively seen $42.4 billion in cumulative quantity. 

The platforms gained momentum in the course of the 2024 US presidential election, after Polymarket appropriately predicted the end result of the elections. 

Kalshi Challenges Polymarket’s Dominance

Polymarket is a decentralization-focused platform that originally led the area, however is now seeing its dominance challenged by Kalshi, which is regulated by the US Commodity Futures Buying and selling Fee (CFTC). 

Since September, Kalshi has seen extra month-to-month quantity than Polymarket.

However that lead may quickly be challenged with Polymarket making ready for a US launch. It acquired QCX, a US-licensed derivatives change and clearing home, for round $112 million in July, giving it a regulated platform to re-enter the US. It has obtained a “inexperienced mild” from the CFTC to return to the US. 

Polymarket has began rolling out its platform to a choose group of US customers in beta mode and there are studies it’s aiming for a late November rollout, initially concentrate on sports activities prediction markets.

Polymarket not too long ago signed a multi-year partnership with TKO Group Holdings, which is the proprietor of UFC and Zuffa Boxing, to turn out to be its “Official and Unique Prediction Market Associate” for dwell fan engagement. 

In the meantime, Intercontinental Trade (ICE), which is the proprietor of the New York Inventory Trade, has made a $2 billion strategic funding in Polymarket and the 2 additionally entered right into a deal that may see ICE distribute Polymarket’s information.

We’re excited to announce that Intercontinental Trade (ICE) — the mother or father firm of @NYSE, is making a $2b strategic funding at a $9b post-money valuation.

Collectively, we’re constructing the following evolution of markets.

A particular thanks to all those that have supported us… pic.twitter.com/y7Z3koj3IU

— Polymarket (@Polymarket) October 7, 2025

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