The major crypto market maker will now provide liquidity on Polymarket and Kalshi. We explain what this means for the prediction market segment.
Major crypto market maker Wintermute has announced its entry into the prediction market space. The company has begun providing two-sided liquidity on leading platforms, including Polymarket and Kalshi.
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Wintermute’s Strategic Decision
According to Wintermute’s Head of OTC, Jake Ostrovskis, prediction markets already have demand characteristic of a major asset class but currently have liquidity at an early stage of development.
“For these markets to become a reliable source of real-time probability assessments, they need sustainable two-sided liquidity. This narrows spreads, enables large trades, and improves price signal quality,” he noted.
Wintermute will continuously place bids and ask orders on event contracts, improving market depth and quote stability.
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Context and Scale
- Total trading volume on prediction markets in 2026 has already exceeded $60B
- Monthly volume at the start of the year was over $20B
- Polymarket and Kalshi together process about $5.8B in weekly notional volume
Wintermute views this segment as a natural extension of its infrastructure, which already operates on more than 70 exchanges and processes $3.5T in annual trading volume. The platforms use stablecoins, public blockchains, and crypto settlements, aligning well with the company’s expertise in spot, derivatives, DeFi, and OTC.
Trend in Prediction Markets
Wintermute’s entry follows similar moves by other institutional players. Previously, Jump Trading and Galaxy Digital also began providing liquidity on Polymarket and Kalshi.
Analysts note that the arrival of major market makers should increase the maturity of the prediction market space, make it more attractive to institutional investors, and improve the accuracy of real-world event forecasting—from politics and economics to sports and geopolitics.
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