Crypto.com is forming an internal team to trade against users on its sports prediction market. The firm is seeking quantitative traders to manage a market-making desk, buying and selling sports outcome contracts directly against customers.
The company states that it does not rely on proprietary trading as a revenue source and that market makers do not have prior access to customer orders. Even so, its rules allow them to receive contracts with a three-second head start over retail traders. The team is registered with the CFTC, and the operation is declared as regulatory compliance.
The move is highly controversial, raising concerns over potential conflicts of interest, similar to Kalshi and Polymarket, which have faced lawsuits and regulatory scrutiny. Kalshi co-founder Luana Lopes Lara defends the model, stating that market makers only help bootstrap liquidity without profiting from user losses.
Sports contracts have become the main source of activity on Crypto.com since their launch, in line with competitors like DraftKings and FanDuel, which have also implemented sports event prediction products.
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