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Crypto.com's Plan to Trade Against Users Puts "No House" Model Under Scrutiny
Crypto.com is building an internal market-making team with the stated goal of profiting from trading on its own prediction market, Bloomberg reports. This move might raise significant conflict-of-interest questions for the CFTC-regulated platform and challenge the industry's core promise of having "no house." The company is actively hiring a "quant trader" to join a team. According to the job listing, the person will "maximize profits while carefully managing risks" by trading on the firm's own sports-related contracts. This practice strikes at the heart of how prediction markets have distinguished themselves from ... (full story)