the whole sentence is not something we'd normally say in English at all, so it doesn't really matter which way is more natural! Specialized use: A kindergarten teacher is asking her class, "Who is making cards (now)?" Other than that, I can't imagine a situation where this would be spoken! Among criminals? "Who is making forged cards at the moment?" ??
Nervous man in a back alley: "Hey, um, I lost my ID..."
Shady man: "What are you looking for?"
"Social security card and a driver's license." Now he's very nervous.
Shady man smiles, and turns to another shady man: "Who's making cards at the moment?"
Extremely unlikely, but plausible.