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Galaxy Digital is exploring becoming a market maker for the prediction markets Polymarket and Kalshi platform.
On November 25, Bloomberg reported that Galaxy Digital Inc. is in discussions with Polymarket and Kalshi Inc. to become a liquidity provider on their platform, as the prediction market continues to attract retail investor demand and gain Wall Street interest, the sector's popularity continues to rise. Mike Novogratz, founder of Galaxy Digital, stated in an interview that Galaxy Digital has been focused on providing encryption infrastructure for institutions, and if they get on board as a market maker, they will provide regular quotes on these prediction trading platforms to enhance platform liquidity. He said, “We are conducting small-scale trials of our market-making business in the prediction market, but I think ultimately you will see us providing broader liquidity.”