Rival Crypto Betting Market Emerges as Polymarket Takes Off

The much talked about blockchain-powered prediction market Polymarket will soon have a new crypto-based competitor when it comes to making wagers on the US presidential election.

The trading firm Wintermute Trading Ltd., which provides liquidity for digital assets by buying and selling them in the crypto market, is collaborating with crypto risk manager Chaos Labs to launch a betting market in the next week that will focus solely on the outcome of the contest, according to Evgeny Gaevoy, chief executive officer of London-based Wintermute. Trading platforms can list the market free of charge, he added.

Many crypto exchanges ...