Galaxy Digital launches OTC prediction market desk with $10 million Kalshi trade
Galaxy Digital launched an institutional over-the-counter prediction markets desk and executed a $10 million trade at launch with crypto-native asset manager Arca on Kalshi, the trade tied to passage of the CLARITY Act. The desk trades non-sports contracts on both Kalshi and Polymarket, covering economics, politics, and geopolitics. The move marks a significant institutional entrant into the prediction market space, bridging traditional finance infrastructure with regulated and crypto-native event-contract platforms. Galaxy becomes the latest market maker to build dedicated prediction-market infrastructure for institutional block orders alongside existing crypto-native dealers.
Galaxy joins DRW, Wintermute, and IMC as dedicated institutional market makers for Kalshi and Polymarket. Any prediction-market venue without comparable OTC desk access now faces wider spreads and inferior execution quality on block-size orders, narrowing the competitive field to firms with crypto-native dealer relationships.
Combines with DRW, Wintermute and IMC building prediction market desks alongside Galaxy and Arca to complete a five-firm institutional market-maker layer for Kalshi and Polymarket.