What White Swan Data does

White Swan Data is a London-based private technology company operating at the intersection of betting, quantitative research, and software development. It provides institutional-grade liquidity, risk pricing, and execution infrastructure for prediction and event markets, serving exchanges, platforms, data providers, and institutional participants globally. The company's core offering, WSD Predicts, prices and absorbs event risk on demand, resolving large and complex RFQ flow efficiently across supported prediction markets, with the firm quoting more than 10 million RFQs daily across six prediction markets while maintaining 99.9% platform uptime. It is headquartered at 125 Kingsway, WC2B, London, and was founded by Bernard Marantelli.

The firm builds custom quantitative trading and pricing platforms from scratch, combining mathematics, data science, and engineering capabilities with what it claims is 20+ years of combined team experience in exchange trading. Its proprietary infrastructure is purpose-built for institutional-scale execution, enabling counterparties to trade large block sizes with consistency and pricing precision across sports markets (from horse racing to MMA) and event-driven prediction markets. Disclosed strategic partners include Kalshi, Polymarket, Betfair, Crypto.com, Pred, and Matchabook, alongside an additional logo visible on the WSD Predicts page. Technology stack is entirely custom rather than third-party, with risk pricing, RFQ execution, and liquidity provision delivered as integrated infrastructure.

White Swan Data generates revenue primarily through transaction fees earned from liquidity provision and RFQ quoting to exchanges and platforms. Its go-to-market is enterprise-focused B2B institutional sales with direct engagement via a dedicated email ([email protected]) and Calendly-based scheduling for prospective clients. Pricing is not publicly disclosed and is negotiated on a custom basis. The company appears privately held with no disclosed external investment, and operates with 101-250 employees.

Name

White Swan Data

Legal name

White Swan Data

Website

https://whiteswandata.com

Company type

Private

Operating status

Operating

Headcount range

101–250 employees

Short description

White Swan Data provides institutional liquidity and pricing infrastructure for prediction and event markets. Through its WSD Predicts platform, the firm quotes over 10 million RFQs daily across six markets, serving exchanges, platforms, data providers, and institutional counterparties globally.

Ownership category

akta.pro rank

Product category

Prediction Market Infrastructure & Liquidity

NAICS

Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Prediction Markets & Event Derivatives (Crypto) (FSADAGAG)

akta.pro secondary industries

Liquidity Aggregation & Smart Order Routing (FSADAJAD), Dark Pools & Block Trading Platforms (FSAFANAK)

Keywords

• Prediction market liquidity
• Quantitative trading platforms
• Event risk pricing
• RFQ execution infrastructure
• Institutional trading services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Liquidity Provision & RFQ Fees: Revenue generated from providing liquidity and quoting RFQs to exchanges and platforms in prediction markets. The company prices and absorbs event risk on demand, earning fees or spreads from large transaction flow.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

White Swan Data, through its WSD Predicts division, provides institutional-grade liquidity and pricing for prediction and event markets. It operates custom-built quantitative trading platforms that price and absorb event risk on demand, execute large block trades, and supply committed liquidity to exchanges, platforms, data providers, and institutional participants such as Kalshi, Polymarket, Betfair, and Crypto.com.

Product overview

White Swan Data operates as a unified platform offering quantitative research, technology, and advisory services for the gambling and prediction markets industry. The core product is WSD Predicts, which provides institutional-grade liquidity and pricing across prediction markets, supported by the company's research and analysis capabilities (pricing risk across sports from horse racing to MMA) and custom-built technology platforms.

Differentiator

Problem solved

Functional benefit

Brands

• WSD Predicts: Liquidity provision and pricing across event and prediction markets, providing institutional-scale execution infrastructure for counterparties.

Products and services

• WSD Predicts

Quantifiable outcome

• 99.9% platform uptime and coverage consistency
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• KalshicoreStrategic or Co-development PartnerKalshi is a prediction market exchange platform. White Swan Data provides institutional liquidity and pricing services as a committed liquidity partner, supporting healthier, deeper markets for Kalshi's prediction market products.
• PolymarketcoreStrategic or Co-development PartnerPolymarket is a decentralized prediction market platform. White Swan Data operates as a liquidity partner providing consistent liquidity for prediction and event markets, enabling the platform to offer compelling wagering products.
• Crypto.comminorStrategic or Co-development PartnerCrypto.com is a cryptocurrency exchange platform. White Swan Data provides venue partnership liquidity services supporting prediction market products on the Crypto.com platform.
• BetfaircoreStrategic or Co-development PartnerBetfair is a betting exchange platform. White Swan Data works alongside Betfair as a committed liquidity partner, applying institutional quantitative trading discipline to support their prediction market operations.
• PredminorStrategic or Co-development PartnerPred is a prediction market platform. White Swan Data provides venue partnership services to support deeper, healthier markets on the Pred platform.
• MatchabookminorStrategic or Co-development PartnerMatchabook is a prediction market platform. White Swan Data operates as a liquidity partner supporting the platform's event and prediction market offerings.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Keyrock: Digital asset market maker and liquidity provider focused on crypto venues. Comparable as an institutional-grade liquidity partner to crypto exchanges and DeFi protocols, mirroring White Swan Data's role with Polymarket and Crypto.com.
• Wintermute: Crypto-native algorithmic trading firm and liquidity provider for digital assets. Direct comparable as a tech-forward liquidity partner for crypto venues like Polymarket and Crypto.com where White Swan Data also operates.

Broad incumbents

• Citadel Securities: One of the largest institutional market makers globally across equities, options, and other asset classes. Represents the scaled competitor that could enter prediction-market liquidity provision at scale if the category grows.
• Susquehanna International Group: Global quantitative trading firm and long-standing institutional market maker across asset classes. Comparable as a large, capital-rich liquidity provider with proprietary pricing infrastructure, though much broader in scope than White Swan Data's prediction-market focus.
• Optiver: Global market maker specializing in derivatives and exchange-traded products. Analogous in providing committed, two-sided liquidity on exchanges with proprietary pricing — relevant precedent for institutional event-market market making.
• Akuna Capital: Quantitative trading firm specializing in options market making and liquidity provision. Comparable as a sophisticated derivatives liquidity provider using proprietary technology and quantitative pricing models.
• Hudson River Trading: Quantitative trading firm providing liquidity across global financial markets. Comparable in operating proprietary technology stacks for institutional-scale execution and pricing, with similar quantitative pedigree.
• Jump Trading: High-frequency and quantitative market making firm operating across multiple venues and asset classes. Relevant as a scaled liquidity provider that could credibly enter the prediction/event market space alongside White Swan Data.
• DRW Trading: Diversified quantitative trading firm with subsidiaries in crypto and event-derivative-adjacent markets. Comparable as a multi-asset liquidity provider with a track record of trading in newly-formed asset categories including crypto.
• Flow Traders: Liquidity provider focused on exchange-traded products and derivatives globally. Comparable as a committed institutional liquidity partner to trading venues, with similar revenue model of earning spreads/fees from flow provision.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about White Swan Data