Jump Trading Taking Small Stakes in Kalshi and Polymarket

• Jump Trading is a professional market maker
• It’s providing liquidity to Kalshi, Polymarket in exchange for small stakes
• The terms reportedly differ between the two prediction market operators

Proprietary trading house Jump Trading will reportedly gain stakes in prediction market operators Kalshi and Polymarket in exchange for providing liquidity to those platforms.

Citing unidentified sources close to the situations, Bloomberg reported earlier today will receive a set amount of equity in Kalshi while its investment in Polymarket could expand over time if certain capacity-providing objectives are met.

Susquehanna International Group, a Jump Trading competitor, has been providing market making services to prediction market firms since 2024 and increased involvement of third-party liquidity providers is important because it could allay concerns that operators’ internal market making units are taking positions against retail clients.

Then there’s issue of pricing on sports derivatives. Those event contracts are the primary drivers prediction market volume growth, but over the course of the 2025 NFL season, pricing on Kalshi NFL derivatives was consistently worse than what bettors encountered on DraftKings and FanDuel. It’s possible that with enhanced liquidity, Kalshi and Polymarket can become more competitive with gaming industry rivals.

Jump Trading Getting Valuable Stakes

Although the sources cited by Bloomberg described the stakes in Kalshi and Polymarket that Jump trading is getting as “small,” those positions are undoubtedly valuable because valuations on those companies are consistently soaring.

So even if Jump trading is getting half percent stakes in each company — not confirmed — those interests would both be worth tens of millions of dollars.

The rapid valuation ascents of the companies made Coplan the youngest self-made billionaire on record and Kalshi co-founder Luana Lopes Lara the youngest self-made female billionaire in history.

Wall Street, Prediction Markets Embrace Grows

Assuming the report is accurate about Jump receiving investments in Kalshi and Polymarket, it’s the latest example of Wall Street embracing prediction markets. Others include CME Group being a partner for event contract platforms operated by DraftKings and FanDuel and New York Stock Exchange operator Intercontinental Exchange being Polymarket’s largest investor.

More recently, Goldman Sachs, the largest investment bank, said it views prediction markets as a compelling segment, perhaps hinting the company could use its market making and high-speed trading expertise to make a splash in the space.