Polymarket to Launch In-House Trading Desk That Bets Against Users: Report

Polymarket is recruiting staff for an internal market-making team that would trade against its own customers, mirroring a controversial feature already used by rival Kalshi that has drawn criticism and legal challenges. According to Bloomberg, the New York-based prediction market startup has approached traders, including sports bettors, to join the new unit, people familiar with the matter said, requesting anonymity because the plans remain private. Polymarket declined to comment on the recruitment effort ...