20B monthly trading volume looks shocking, but compared to Crypto spot trading, it's still in infancy; the key point is how low the bid-ask spread can be pushed with bilateral market making.

Wintermute announces its entry into the prediction market sector, providing two-way liquidity and continuous quotes for event contracts on mainstream platforms. The related platforms have a monthly trading volume of over $20 billion. By April 2026, the cumulative historical trading volume of Polymarket and Kalshi exceeded $150 billion. Industry insiders believe that prediction markets have demand characteristics similar to large assets, but liquidity is still in the early stages. Ongoing bilateral liquidity helps narrow spreads, support large transactions, and improve price signal quality. Previously, Jump Trading and Galaxy Digital have also entered the space.