DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.

Prediction market exchange Polymarket has hired Lisa Mantil, a Goldman Sachs veteran with nearly three decades at the bank, to lead its effort to attract deeper liquidity from Wall Street institutions.

Mantil will become Polymarket’s head of institutional growth, the company told CNBC before a Tuesday announcement. The appointment comes as prediction market platforms work to draw larger professional traders into a business whose recent momentum has largely come from retail activity.

Mantil most recently served as a Goldman partner and global head of the bank’s ETF accelerator. The internal Goldman platform helped clients bring investment products to market.

“The opportunity to join Polymarket is a rare chance to help shape an exploding asset class at an inflection point in its development,” Mantil said in a release.

“I’ve spent my career guiding institutions as they adopt new products and enter new markets, and I look forward to bringing that expertise to Polymarket as we build the institutional business and expand the role prediction markets can play across investment and risk-management strategies.”

Mantil is the latest executive to join Polymarket while the company expands following the official launch of its U.S. exchange in May. Her experience places her at the center of the company’s campaign to build an institutional business around prediction markets.

CNBC reported in August that Polymarket had made a series of hires across its domestic and international platforms. Earlier this month, the company also announced that Warren Jenson would join as chief financial officer.

Jenson previously held positions at companies including Amazon and Delta Air Lines. His appointment and Mantil’s hiring add senior corporate and institutional experience as Polymarket pursues further growth.

Prediction markets have recorded surging volumes during the past year, primarily because of retail traders drawn to sports related offerings. Platforms are now increasingly seeking institutional liquidity, a key priority as they attempt to attract large traders.

Polymarket CEO and founder Shayne Coplan said Mantil has the background needed to direct the company’s latest business expansion. Her relationships throughout the institutional market were also central to his praise.

“Lisa’s experience and relationships across the institutional world are world class,” Coplan said.

Institutional adoption of prediction markets nevertheless remains in its early stages. Some participants are staying out of the market while platforms remain locked in regulatory disputes with states over who has authority to oversee sports related event contracts.

Those disputes have not stopped exchanges from pursuing professional traders or introducing transaction methods commonly used on Wall Street. Block trades have emerged as one avenue for accommodating larger transactions.

Rival Kalshi became the first exchange to complete a block trade in April. Such trades are large transactions privately negotiated to limit the price volatility that could result if they were placed directly into the market.

Polymarket’s international platform completed its first block trade one month after Kalshi’s transaction. The international operation runs on the Polygon blockchain and is not regulated in the U.S.

Brokers working with early institutional participants in prediction markets told CNBC that Polymarket has discussed completing block trades through its U.S. exchange. They also said the company was nearing the capability to conduct those transactions.

Polymarket declined to comment on the status of block trades on its domestic platform. That leaves the timing of any such transaction undisclosed as Mantil prepares to oversee the broader institutional growth effort.

CNBC disclosed that it has a commercial relationship with Kalshi. That relationship includes customer acquisition and a minority investment in the rival prediction market exchange.

DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.