Crypto.com Seeks Quant Trader for Sports Prediction Markets

Crypto.com Expands into Sports Prediction Markets

Crypto.com is hiring a quant trader for its internal market-making team focused on sports prediction markets.
The role involves buying and selling financial contracts based on sports game outcomes, potentially trading against customer bets.
The trader will aim to maximize profits while managing risks, providing liquidity, and analyzing data for trading opportunities.
Crypto.com claims its market makers have a 3-second advantage in the market, reassuring participants of fairness.

Industry Concerns Over In-House Trading

Critics argue that in-house trading creates conflicts of interest, likening it to traditional sportsbooks where platforms profit from customer losses.
Crypto.com counters by stating they do not rely on proprietary trading for revenue and deny pre-access to proprietary data or order flow.
Despite controversies, the prediction market sector is growing, with Coinbase recently entering this niche backed by Kalshi.
Kalshi raised $300 million in Series D funding to expand its platform to over 140 countries.