{"id":57615,"date":"2025-11-25T14:19:25","date_gmt":"2025-11-25T14:19:25","guid":{"rendered":"https:\/\/thecryptocurrencypost.net\/es\/?p=57615"},"modified":"2025-11-25T14:19:27","modified_gmt":"2025-11-25T14:19:27","slug":"galaxy-de-novogratz-negocia-con-polymarket-y-kalshi-para-proveer-liquidez-como-market-maker","status":"publish","type":"post","link":"https:\/\/thecryptocurrencypost.net\/es\/galaxy-de-novogratz-negocia-con-polymarket-y-kalshi-para-proveer-liquidez-como-market-maker\/","title":{"rendered":"Galaxy de Novogratz negocia con Polymarket y Kalshi para proveer liquidez como market maker"},"content":{"rendered":"<p><strong>Galaxy Digital, la firma de Mike Novogratz, est\u00e1 en conversaciones con Polymarket y Kalshi para actuar como proveedor de liquidez<\/strong> y reducir spreads en mercados de predicci\u00f3n. La iniciativa, descrita como una fase inicial de pruebas, busca <strong>mejorar la eficiencia y acelerar la institucionalizaci\u00f3n<\/strong> si avanza hacia \u00abliquidez m\u00e1s amplia\u00bb.<\/p>\n<p><!--more--><\/p>\n<p><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-11-24\/novogratz-s-galaxy-digital-experimenting-in-prediction-markets\" target=\"_blank\" rel=\"noopener noreferrer\">Galaxy<\/a> ha comenzado \u201cexperimentos a peque\u00f1a escala con market-making\u201d<\/strong> como paso previo a un despliegue mayor. Un market maker es un agente que publica de forma continua precios de compra y venta para facilitar la ejecuci\u00f3n de operaciones y estrechar el diferencial entre ambos precios, lo que <strong>reduce costes de transacci\u00f3n y permite operaciones de mayor tama\u00f1o sin desplazar el precio<\/strong>.<\/p>\n<p>La firma ve en el sector una oportunidad significativa, con evaluaciones internas que sit\u00faan el mercado en torno a los $9.000 millones como referencia de potencial. Los mercados actuales muestran ineficiencias aprovechables mediante arbitraje; <strong>se report\u00f3 una divergencia de precios entre plataformas<\/strong>, con un contrato que cotizaba a $0,35 en Kalshi y $0,14 en <a href=\"https:\/\/thecryptocurrencypost.net\/es\/companias\/\" target=\"_blank\" rel=\"noopener\">Polymarket<\/a>. Galaxy pretende <strong>explotar esas brechas con capital institucional y algoritmos<\/strong>, aportando profundidad de libro y menor latencia en ejecuci\u00f3n.<\/p>\n<h2>Regulaci\u00f3n, competencia e impacto en el mercado<\/h2>\n<p><strong>Kalshi dispone del estatus de mercado designado por la CFTC<\/strong>, un factor que ofrece mayor claridad jur\u00eddica, mientras que Polymarket ha reentrado al mercado estadounidense mediante la adquisici\u00f3n de QCEX y plantea un \u00abempuje m\u00e1s amplio en EE. UU. en 2026\u00bb. Esa diferencia de marcos <strong>obliga a adaptar la oferta de Galaxy a cada plataforma<\/strong> y subraya la importancia de la conformidad normativa para atraer capital institucional.<\/p>\n<p>El espacio competidor es amplio: ya participan market makers institucionales como Susquehanna y Jump Trading, y empresas de trading y plataformas m\u00e1s grandes observan el sector. <strong>Polymarket y Kalshi registran vol\u00famenes semanales combinados superiores a $2.000 millones<\/strong> y presentan valoraciones reportadas de hasta $15.000 millones y $5.000 millones, respectivamente.<\/p>\n<p>La entrada de Galaxy <strong>a\u00f1adir\u00eda capacidad de liquidez<\/strong> que podr\u00eda consolidar ventajas competitivas para ambas plataformas y, simult\u00e1neamente, provocar una nueva fase de competencia entre proveedores de capital.<\/p>\n<p>Si Galaxy ampl\u00eda su papel, los usuarios <strong>podr\u00edan beneficiarse de spreads m\u00e1s estrechos, menor impacto por \u00f3rdenes grandes y precios m\u00e1s consistentes entre plataformas<\/strong>. Para operadores institucionales, la mayor profundidad facilitar\u00eda estrategias de arbitraje y cobertura; para reguladores, la llegada de actores consolidados plantea la urgencia de marcos claros que distingan estos mercados de apuestas tradicionales.<\/p>\n<p>Las conversaciones colocan a Galaxy en una <strong>posici\u00f3n clave para influir en la profesionalizaci\u00f3n de los mercados de predicci\u00f3n<\/strong>, con potencial para mejorar liquidez y descubrimiento de precios sin eliminar riesgos regulatorios.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Digital, la firma de Mike Novogratz, est\u00e1 en conversaciones con Polymarket y Kalshi para actuar como proveedor de liquidez y reducir spreads en mercados de predicci\u00f3n. La iniciativa, descrita como una fase inicial de pruebas, busca mejorar la eficiencia y acelerar la institucionalizaci\u00f3n si avanza hacia \u00abliquidez m\u00e1s amplia\u00bb.<\/p>\n","protected":false},"author":33,"featured_media":57614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80,33],"tags":[1252,1078,1011],"class_list":["post-57615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companias","category-editors-picks","tag-galaxy","tag-kalshi","tag-polymarket"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Galaxy de Novogratz negocia con Polymarket y Kalshi para proveer liquidez como market maker The CryptoCurrency Post ESP<\/title>\n<meta name=\"description\" content=\"Galaxy Digital, la firma de Mike Novogratz, est\u00e1 en conversaciones con 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