When SIG, the most mysterious market making giant on Wall Street, shifts its focus from options and interest rate swaps to the prediction market, the future direction of this industry is often already written in advance. As one of the largest options market makers in the United States, SIG (Susquehanna International Group) has dominated the liquidity of over 50 global markets for the past 30 years, but has rarely appeared in the public eye. But it is this' king behind the scenes' that has quietly become the most critical liquidity provider and infrastructure builder in the cryptocurrency field in recent years, and is playing an increasingly crucial role in the prediction market track. SIG focused on encryption much earlier than mainstream institutions. After establishing an independent trading team in 2016, it first tested its strategy in the over-the-counter and derivatives markets, and then expanded to compliant exchanges for market making, following a path completely consistent with its traditional financial approach. SIG Digital, Susquehanna Crypto, and other entities have become core liquidity providers for multiple regulated platforms today, alongside Flow Traders, Jane Street, and Virtu, providing institutions with in-depth quotes. What truly propelled SIG from behind the scenes to the forefront is market forecasting. In 2024, SIG became the first designated market maker in the history of Kalshi (@ Kalshi), injecting unprecedented depth into this CFTC regulated event contract exchange. In the following year, the valuation of Kalshi soared to $11 billion, with most of its liquidity coming from SIG. In 2025, SIG will jointly acquire up to 90% equity of LedgerX with Robinhood (@ RobinhoodApp), planning to build an event futures trading and clearing platform under the US regulatory framework, indicating that SIG is attempting to occupy the infrastructure entrance in the "next-generation derivatives market". In addition to market making, SIG's cryptocurrency investment layout also points towards the same theme: liquidity, pricing power, and verifiability. It has systematically invested in derivative infrastructure such as Pyth (@ PythNetwork), SynFutures, Hxro, Infinity Exchange, and has also invested in identity and data trustworthiness projects such as zkPass, Accredfy, and TokenInsight, continuing its integrated style of "research+market making+infrastructure" in traditional finance. If players like Jump and Wintermute focus on trading speed, then SIG's logic is closer to Citadel: Whoever holds the liquidity and pricing power holds the dominant position in the next market cycle. The heavy position layout in the prediction market indicates that SIG is betting on "events as an asset", which may change the derivative landscape of cryptocurrency and traditional finance in the next decade.