Wintermute is expanding into prediction markets by launching an institutional over-the-counter offering and providing two-sided liquidity for prediction contracts on leading platforms. The firm said liquidity in the sector remains early-stage and needs consistent two-sided flow to tighten spreads and support larger trades, according to OTC head Jake Ostrovskis. Wintermute has already completed a $10 million trade tied to U.S. crypto legislation with hedge fund Arca, signaling institutional demand for bespoke event-based exposure. The company also said it currently processes $3.5 trillion in annual trading volume.