Crypto.com hires sports trader for event prediction market-making
|- Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events.
- Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.
- Crypto.com's spokesperson says the company does not "rely on proprietary trading as a source of revenue."
Crypto exchange Crypto.com has announced plans to recruit a new employee for its market-making team on the firm's prediction marketplace, according to Bloomberg.
The hiring push comes as crypto exchanges are developing at the intersection of digital asset trading and event prediction, amid evolving crypto regulations.
The Singapore-based company posted a listing for a "quant trader" who will focus on buying and selling financial contracts tied to the outcome of sports events.
A sports prediction market trader operates at the intersection of data analytics, financial expertise, and a passion for sports. The role involves market-making in prediction contracts, leveraging understanding of both sports and market dynamics to maximize profits while carefully managing risk.
Market making has been a controversial topic for prediction market companies because, unlike sportsbooks, which set odds or profit from customer losses, they match opposing views in an open market. Opponents argue that internal trading desks are effectively placing the platform operators or their affiliates on the opposite side of customer trades.
Crypto.com clarifies tasks of new quant trader
However, Crypto.com noted in its recent job listing that it hopes that the new quant trader will "maximize profits while carefully managing risks," suggesting that one of the team's goals is to make money from trading.
A spokesperson for Crypto.com said that it does not "rely on proprietary trading as a source of revenue," and that its internal market maker "does not have access to proprietary data or customer order flow" before other participants.
The job description makes clear that the new quant trader will trade against customers on Crypto.com's prediction venue. In practice, the internal desk will be taking the other side of user positions in markets tied to major games and tournaments.
Moreover, this design mirrors how some crypto prediction market platforms already operate, where house-backed liquidity ensures tight spreads and constant order book depth. That said, it also raises familiar questions around conflicts of interest and transparency in how odds or prices are set.
Furthermore, the listing underscores how Singapore crypto jobs are increasingly blending quantitative finance, digital assets, and sports analytics. The role is framed as a front-office trading position, rather than a pure research or back-office function.
Crypto.com was one of the first prediction market companies to list contracts tied specifically to sports results late last year. At that time, the firm expanded beyond purely financial or token-based markets to include match outcomes and performance-based contracts.
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