Novogratz’s Galaxy Digital ‘Experimenting’ in Prediction Markets

Mike Novogratz’s Galaxy Digital Inc. is in discussions with Polymarket and Kalshi Inc. about becoming a liquidity provider on their platforms, as prediction markets continue to capture retail demand and pique interest on Wall Street.

Galaxy Digital, which has focused on providing crypto infrastructure for institutional players, would serve as a market maker on the exchanges, offering regular trades that would improve the liquidity on the platforms, Novogratz said in an interview.

“We’re doing some small-scale experimenting with market-making on prediction markets, but I think you’ll eventually see us providing broader liquidity,” he said.

Mike Novogratz during an interview on Nov. 19

Photographer: Victor J. Blue/Bloomberg

Prediction markets have exploded ...