DRW builds dedicated trading desk for prediction markets

Chicago-based trading giant DRW is building a dedicated trading desk targeting prediction market platforms like Polymarket and Kalshi and is actively hiring for the new unit, CoinDesk reported. Other major firms are following suit, with crypto market maker Wintermute seeking algorithmic traders with prediction market experience and trading firm IMC recruiting quant traders familiar with Binary Event Contracts. The outlet noted that these moves indicate trading firms are increasingly viewing prediction markets as formal trading venues rather than simple betting products.