Former mathletes’ firm reportedly emerged as a top-10 trader across US regulated exchanges

The Wall Street Journal reports that former mathletes Zack Chroman and Tanner Hoke founded Alcedine Technologies in 2024. It quickly emerged as a top-10 trader across US regulated exchanges, which include Kalshi, while keeping almost no public profile. The Journal says top market-makers regularly funnel hundreds of millions or billions of dollars a month through prediction markets.