Foresight News reports, citing Bloomberg, that Polymarket has been recruiting new employees for its internal market-making team, which may compete with customers on the company’s exchange, despite similar practices having drawn criticism for its main competitors. According to people familiar with the matter, Polymarket has recently been in talks with traders, including sports bettors, about joining its new division. These sources requested anonymity as the plans are internal matters. Kalshi already operates a similar division to what Polymarket is building, called Kalshi Trading, which bids on the exchange and effectively takes positions opposite some customers. Kalshi executives state that the division was established to create liquidity and improve the customer experience. However, critics argue that the company’s market-making activities create conflicts of interest with customers and make Kalshi resemble a traditional sports betting company.
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