#kalshi

Quant Firms Turn Prediction Markets Into a Crypto Trading Infrastructure Test

DRW, Wintermute and IMC are building or hiring for prediction-market trading desks as Polymarket and Kalshi attract institutional attention. During 2025, Polymarket handled a reported $22 billion to $40 billion across politics, economics and sports, while three sports markets topped $730 million together. The practical test is whether institutional trading models can exploit cross-platform inefficiencies without displacing specialist sports-betting groups.