Solana News Today: Jupiter Sets Sights on $3.5B Prediction Market, Powered by Solana’s Rapid Performance

Jupiter, recognized as one of the busiest decentralized exchanges (DEXs) on Solana, has introduced a beta version of its own prediction market. This new feature utilizes Kalshi’s regulated infrastructure to enable micro-betting on live events, as reported by

. The platform’s debut centers on Formula 1, launching a market for the Mexico Grand Prix where participants can buy "Yes" or "No" tokens depending on the race’s outcome. This development positions as a significant contender in the fast-growing prediction market industry, which is expected to reach $3.5 billion in revenue by 2026, according to the report.

Operating on Kalshi’s CFTC-approved platform, Jupiter’s prediction market allows for real-time, blockchain-based betting without the burden of intricate compliance measures, the CryptoNinjas report explains. Traders can buy and sell tokens as odds fluctuate with public sentiment, ensuring a transparent and auditable process. For instance, a $1 "Yes" token pays out $1 if the prediction is correct, providing instant payouts for successful bets. This approach leverages Solana’s advantages of rapid transaction speeds and minimal fees, appealing to crypto enthusiasts interested in quick, high-frequency wagers, the report continues.

Jupiter’s move into this arena heightens the competition between Kalshi and Polymarket, the two leading forces in on-chain prediction markets. Kalshi currently commands 70% of the notional volume and benefits from its partnership with Robinhood, while Polymarket leads in non-sports categories such as politics and cryptocurrency, according to CryptoNinjas. Jupiter’s infrastructure on Solana provides a distinct edge with quicker transactions and reduced fees compared to Ethereum-based competitors, potentially allowing it to capture a larger market share as micro-betting gains popularity, the report notes.

Data cited in the report illustrates the sector’s rapid expansion. The total value locked (TVL) across prediction platforms stands at $241.9 million, with Polymarket accounting for $215.55 million of that sum. Jupiter’s targeted approach to micro-betting with swift event settlements could reshape the current landscape, especially as interest from retail users grows. Nevertheless, the industry still faces hurdles, including regulatory oversight and disagreements over event outcomes. A recent high-profile case where Kalshi lost $2,000 due to a resolution mistake highlights the ongoing need for clearer operational standards, the report points out.

Experts see Jupiter’s launch as a crucial experiment for the Solana network. Should the prediction market gain momentum, it could drive broader acceptance of on-chain betting and further strengthen Solana’s standing in the decentralized finance space, the CryptoNinjas report concludes.