Can the platform support both peer-to-peer and against-the-house models?

Yes, the platform supports both models. In peer-to-peer (exchange) mode, users trade with each other through the CLOB or AMM, and the operator earns transaction fees without taking directional risk. In against-the-house mode, the operator acts as the counterparty, setting prices and taking the opposite side of user trades, similar to a traditional sportsbook. Most operators start with the exchange model for lower risk, and the AMM effectively acts as the house in the early stages by providing algorithmic liquidity. The platform lets you configure each market category independently, so you can run some markets as P2P and others as house-banked.