Polymarket Hiring Internal Team to Trade Against Its Own Users
The post Polymarket Hiring Internal Team to Trade Against Its Own Users appeared first on Coinpedia Fintech News
Polymarket, one of the most popular prediction markets in the crypto world, is reportedly planning to launch its own internal market-making desk, a team that would trade directly against users instead of simply letting traders bet against each other.
Experts warn that this decision may hurt the trust Polymarket has built, especially after becoming famous during the 2024 election season.
Polymarket’s New Plan: Trading Against UsersPolymarket is now trying to hire people to work as its own in-house market makers. These traders would set prices and take the opposite side of users’ bets.
Normally, prediction markets work by letting users trade with each other, not with the platform itself. But, the company says the goal is to add more liquidity so markets move smoothly with more buying and selling
But critics think the real reason is that Polymarket needs a new way to earn money because it doesn’t charge trading fees.
"Polymarket has been recruiting new staff members for an internal market making team that could face off against customers on the company’s exchange, even though a similar feature has exposed its chief rival to criticism."
Polymarket Builds In-House Trading Team as It Re-Enters… pic.twitter.com/hVuYT11TKi
