Galaxy launches institutional prediction markets

Galaxy Digital has launched an over-the-counter (OTC) prediction markets trading service specifically for institutional investors. This new offering aims to provide large-scale access to event-driven contracts related to political, economic, and geopolitical outcomes. The service will initially focus on non-sports contracts available on platforms like Kalshi and Polymarket. Galaxy will act as a principal counterparty, facilitating trades and potentially hedging positions across various asset classes to build comprehensive event-driven strategies. This move, highlighted by a $10 million trade with hedge fund Arca tied to U.S. crypto legislation, seeks to deepen liquidity and institutionalize prediction markets.