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Wintermute is moving into prediction markets as institutional market makers race to dominate event contracts that already clear more than $20 billion a month.<\/p>\n
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Wintermute, one of crypto\u2019s largest quantitative market makers, has begun providing continuous two way liquidity on several \u201cleading\u201d prediction market platforms, extending its infrastructure into event contracts that straddle both digital assets and traditional macro themes, according to\u00a0The Block<\/a>.<\/p>\n The firm told The Block it has already been streaming bilateral buy and sell quotes across multiple venues, where aggregate monthly prediction market trading volume has climbed past $20 billion in 2026, even as liquidity remains \u201cearly stage\u201d by institutional standards.<\/p>\n Wintermute itself executes more than $3.5 trillion in annual trading volume across spot, derivatives and DeFi markets, and the new business line is pitched as a way to extend that cross asset machinery into event contracts ranging from elections and macro data prints to crypto specific flows.<\/p>\n Jake Ostrovskis, Wintermute\u2019s head of OTC trading, argued that the underlying demand in prediction markets already resembles traditional asset classes, with structurally similar flows but thinner books and wider spreads than blue chip futures or options.<\/p>\n <\/p>\n \u201cThere is clear demand for these markets, but liquidity is still insufficient,\u201d he told The Block, saying Wintermute\u2019s goal is to post continuous bilateral quotes that tighten spreads, deepen books and make the implied probabilities more usable for traders and institutions.<\/p>\nWintermute\u2019s thesis on event contracts<\/h2>\n