Prediction markets have grown rapidly in 2025. Now Wall Street might be getting a head start over retail with prediction bets. Bloomberg's Lydia Beyoud reports on "Bloomberg Crypto"

Wall Street

Prediction markets are adopting measures similar to traditional gaming platforms to address the issue of 'court siding,' where some participants gain early access to information. Crypto.com has implemented a delay intended to level the playing field for market makers, though it is unclear whether this benefits retail investors equally. The regulatory filing for this change was made in July and disclosed on the company's website, but many users may not have noticed due to its placement in the terms of service.

The move has sparked debate about the primary audience for these platforms—whether they serve professionals or retail traders. Market makers are considered essential for liquidity, but questions about fairness and the role of internal and external market makers are drawing attention from regulators, including the Commodity Futures Trading Commission and state gambling authorities.

Wall Street gets a head start over retail in prediction bets

So what we're seeing here actually is prediction markets starting to mirror more the actions of traditional gaming platforms. What this change is meant to do is address the phenomenon of court siding. If you are courtside at a game or an event you have information before anyone else does including market makers. So it seems like this is being implemented in order to sort of equalize that playing field again for four market makers who are on the crypto dot com platform. Cal she sent us a comment after publication yesterday saying that although they have filed to make this their own form of delay that they haven't decided whether or not they'll go through with it. It does seem to be live on crypto dot com though. So does it actually even the playing field if we're going to stick with sports metaphors. I think that you know it's the question is are we just talking about courtsiders and market makers. Are we talking about retail. I think there's going to be a difference of opinion there. Crypto dot com did put in this regulatory filing back in July and they did put this. They disclosed it on their Web site but it was sort of buried down in terms of service and FAQ. So I don't know that a lot of people knew necessarily that it was happening. I'm curious to see how this plays out with people reacting to it and in trading going forward. Is this. I mean is the retail like if we think about the platforms like who are these platforms actually for. Are they for the professionals or are they for the retailers now. So you need market makers typically on these prediction market platforms to to make sure that there is a lot of liquidity and crypto dot com spokesperson did say that they were implementing this for the purpose of improving liquidity there. But there have been there are more and more questions coming up now about the role of market makers both internal and external on prediction market platforms. And in this question of fairness it's something that courts are starting to look at. And it's it's going to be maybe central to how both the Commodity Futures Trading Commission which regulates these these exchanges as well as state gambling regulators think about this as this is all playing out. It's one of the big questions ahead for this administration.

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