Polymarket plans to hire an in-house trading team to trade against customers, raising concerns about risks and motives behind the shift, which appears aimed at generating revenue rather than improving user experience, according to experts.

Traders are gearing up for a significant options expiry event involving over $4 billion in Bitcoin, Ethereum, XRP, and Solana, which may lead to market volatility and potentially decrease the overall crypto market cap below $3 trillion ahead of the FOMC rate decision.

The crypto market experienced a downturn on December 5, following a decline in Bitcoin, which affected major altcoins. Increased liquidations and negative futures market activity contributed to the overall downward trend.