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River Markets has signed a preliminary agreement to route OG.com event contracts and Crypto.com Exchange spot liquidity through its platform. The proposed connection would put both markets into a workflow used by institutional trading firms. The memorandum of understanding was signed on 20 October.
One interface spans two markets
River would supply the client platform, routing and risk tools. OG.com would make event contracts available through its CFTC-regulated exchange and clearinghouse, while Crypto.com Exchange would contribute spot liquidity in digital assets. The venues would serve separate parts of the proposed setup.
Hedge funds, quantitative desks, macro funds and systematic desks are among the intended users. Rather than build a separate connection to each venue, they would access the markets through River's existing workflow.
River expands its trading stack
The plan extends River's work on execution and prime-brokerage tools, funded by an $8.5 million round in August. The company is building for firms whose prediction-market positions and liquidity can sit across different platforms. Adding OG.com contracts and crypto spot trading would widen the markets available through its system.
Institutional participation remains limited
A June survey by Acuiti and Singapore Exchange found that 9% of institutional derivatives participants were already trading prediction markets. In a recent interview with Finance Magnates, Kalshi's Head of Institutional, Andy Ross, said firms joining or using its exchange collectively manage more than $1 trillion in assets. He also characterised institutions as a significant part of trading and said they often trade against one another.
River co-founder and CEO Oscar Levy said: "Prediction markets have matured from a niche asset class into essential information infrastructure for global macro and quantitative trading desks."
What this means on the desk
The agreement does not specify shared collateral or settlement arrangements between event contracts and spot trades. Before planning around the connection, operators should ask whether exposures will appear in a common risk view and how fills and positions from each venue will feed existing controls and reconciliation.
No launch date has been announced, so the proposed route is not yet an available integration. Desk and operations teams will need implementation details on venue access, data flows and the handling of cross-market risk before they can assess the production impact.
