Solana-based decentralized exchange aggregator Jupiter is set to roll out a new native predictions market, developed in partnership with Kalshi, before the end of the year.
On Wednesday, Jupiter announced the beta launch of its Jupiter Prediction Market. Kalshi will provide liquidity for the platform, enabling users to bet on the outcomes of various events.
Why Jupiter is entering the predictions market space
Kash Dhanda, Chief Operating Officer at Jupiter Exchange, told Cointelegraph that the company aims to offer users a wide range of products on a single platform, with prediction markets helping to attract new participants.
“Prediction markets represent a powerful evolution in the types of assets available on-chain, and we’re thrilled to partner with Kalshi to bring them to Solana,” Dhanda said.
Dhanda added that the rapid growth of prediction markets is expected to drive further user acquisition. As of Q3, Jupiter reported 8.4 million active users, marking a 5% increase from the previous quarter.
He noted that the new prediction market would also benefit JUP tokenholders. “As our prediction markets grow, so does our reach, cross-product synergy, and revenue — all of which are long-term positives for tokenholders,” he said.
Jupiter plans to take user feedback into account to refine the product. The platform expects a full launch in the fourth quarter.
“We’ll continue iterating on the product and increasing limits based on feedback — more markets will be added as we gear up for a full Q4 launch,” Dhanda said.
Prediction market beta details
Currently, the beta version offers a single market: predicting which Formula One driver will win the upcoming Mexico Grand Prix. Global maximum contracts are capped at 100,000, with individual positions restricted to 1,000 contracts.
Jupiter’s first test market has already surpassed the $100,000 milestone. In the F1-focused market, Dutch-Belgian driver Max Verstappen is currently leading, with nearly 46% of users predicting him to win the race. British driver Lando Norris is in second place, with 27% of users backing him.
Growing institutional interest in prediction markets
Institutional appetite for prediction markets has surged in recent months. Leading platforms Polymarket and Kalshi have seen their valuations rise alongside growing trading volumes.
On October 7, Intercontinental Exchange (ICE), the parent company of the NYSE, invested $2 billion in Polymarket, valuing the company at $9 billion. Meanwhile, Kalshi raised $300 million in a Series D funding round, reaching a $5 billion valuation, with participation from Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.
These investments come amid rapid growth in the prediction market sector. Weekly trading volumes across platforms reached an all-time high of $2.03 billion for the week ending October 13, according to data from a Dune dashboard.
