Galaxy Establishes Prediction Market OTC Derivatives Desk (1)

Crypto finance conglomerate Galaxy Digital Inc. has launched a trading desk to offer large investors better access to prediction markets via over-the-counter derivatives similar to those used in markets from interest rates to commodities.

Galaxy Trading Mercury, a Galaxy subsidiary, entered into a $10 million wager in May with crypto hedge fund Arcaon whether or not the Digital Asset Market Clarity Act of 2025 will pass through Congress, executives at the company confirmed in an interview. The parties used an over-the-counter (OTC) event swap, a bilateral version of contracts that are already common on prediction markets like Kalshi or ...