Crypto.com is hiring for a sports event contracts quant trader to develop its market making capabilities in a bid to further consolidate its prediction markets offering.

According to the job listing, the role centres on pricing and providing liquidity for sports event contracts for a salary of at least $120,000.

The US-based quant will also be responsible for quoting markets and managing risk.

The listing reads: “A sports prediction market trader operates at the intersection of data analytics, financial expertise and a passion for sports.

“This role involves market making in sports prediction contracts and managing risk in sports prediction markets.

“The trader’s objective is to leverage their understanding of both sports and market dynamics to maximise profits while carefully managing risks.”

Prediction markets have, in some cases, presented their model as individuals taking opposite sides of a trade, in contrast to the emergence of Crypto.com’s in-house market making efforts.

Crypto.com has recently entered into partnerships with top-tier US operators in an expansion drive into the prediction market space.

Fanatics has used Crypto.com to help it build a prediction markets platform. Truth Social, owned by Donald Trump, and MyPrize have the same relationship with the Singapore-based exchange.

Fanatics is currently offering event contracts on sports, finance, economics and politics, with crypto, stocks, climate, tech and pop culture to follow.

Truth Social became the first social media platform to offer prediction markets via a Crypto.com partnership in October.

Coinbase has acquired prediction markets startup The Clearing Company to help construct its own prediction markets offering, with the firm currently using Kalshi markets.

Both Crypto.com and Coinbase, alongside Kalshi, Robinhood and Underdog, have launched a trade body to protect the interest of prediction market platforms and defend against “state-level overreach”, in their words.

Kalshi co-founder Luana Lopes Lara told Valor this week that the New York-based firm is exploring moving into Brazil next year.

Lopes Lara, a 29-year-old Brazilian, said the Latam market would be a key target as part of the group’s international expansion, which was teased following a Series D funding round earlier this year.

Elsewhere, the Chicago Blackhawks have become the first US professional sports team to partner with a prediction market, having penned a deal with Kalshi.

Under the remit of the deal, the Blackhawks and Kalshi will share IP to allow for cross-promotion on socials, with the ice hockey franchise also promoting Kalshi at home games.

Finally, Kalshi has also rolled out a new division, Kalshi Research, which the company said would support academic work on prediction markets.

The post Crypto.com hiring for sports market making trader first appeared on EGR Intel.