Wintermute to provide two-sided liquidity for prediction markets

Wintermute announced it will provide institutional two-sided liquidity and post continuous bid and offer prices across event contracts on leading prediction-market venues, citing its $3.5 trillion in annual trading volume. The firm did not name specific platforms.

The company said it will make two-sided markets across event contracts and maintain continuous quotes to narrow spreads and improve the reliability of market-implied probabilities. Jake Ostrovskis, head of OTC trading at Wintermute, described prediction markets as having “the demand profile of a major asset class while retaining the liquidity profile of an early-stage market.” He added that sustained two-sided liquidity tightens spreads and supports larger trade sizes, which can strengthen the price signal.

Wintermute manages spot, derivatives, decentralized finance and over-the-counter crypto trading. The firm noted prediction markets overlap with that infrastructure, allowing reuse of collateral, yield strategies on locked capital and potential oracle feeds derived from prediction prices.

Market data show the two largest prediction platforms, Kalshi and Polymarket, together generate roughly $5.8 billion in weekly notional volume, about 400,000 active markets and 42.7 million weekly transactions. Kalshi accounts for roughly 70% of that volume. Politics and sports are the dominant betting categories on both platforms.

Wintermute did not disclose which venues it will support or provide a launch timetable. The firm framed the expansion as an extension of its institutional trading services rather than a separate product line.