Polymarket Builds In-House Trading Team as It Re-Enters the US

Polymarket has been recruiting new staff members for an internal market making team that could face off against customers on the company’s exchange, even though a similar feature has exposed its chief rival to criticism.

The New York-based prediction market startup has recently spoken to traders including sports bettors about joining the new unit, according to people familiar with the matter who asked not to be identified as the plans are private.

Polymarket declined to comment.

Polymarket and its main rival, Kalshi, have grown swiftly in recent months by offering customers exchanges where they can bet on the outcome of ...