Jupiter to Launch Crypto Predictions Market Offering
Solana-based decentralized exchange aggregator Jupiter is preparing to introduce its native prediction market before the end of the year, developed in collaboration with Kalshi. The beta version of the Jupiter Prediction Market has already gone live, with Kalshi supplying liquidity for the platform that enables users to wager on event outcomes.
Kash Dhanda, Jupiter Exchange’s chief operating officer, stated that the platform aims to offer users a diverse range of products under one roof, with prediction markets expected to attract new participants. “Prediction Markets represent a powerful evolution in the types of assets that are available onchain, and we’re thrilled to partner with Kalshi to bring them to Solana,” Dhanda said.
He added that as the sector expands, Jupiter expects its user base to grow as well. The platform had 8.4 million active users in the third quarter, marking a 5% rise from the previous period. According to Dhanda, the development of prediction markets will strengthen Jupiter’s overall ecosystem and benefit JUP tokenholders over time.
The team also plans to use community feedback to refine the offering, with a full launch scheduled for the fourth quarter. “We’ll keep iterating on the product and increasing limits in line with feedback we receive — more markets will be added and we’ll be gearing up for a full launch in Q4 itself,” Dhanda said.
Beta market focuses on Formula One
The beta currently hosts a single market focused on predicting the winner of the upcoming Mexico Grand Prix. Global maximum contracts are capped at 100,000, and individual positions are limited to 1,000. Since its launch, trading volume has surpassed $120,000, with Max Verstappen leading predictions at 46% and Lando Norris following with 27%.
Growing institutional interest
The broader prediction market industry is experiencing rapid growth. Leading platforms such as Polymarket and Kalshi have seen rising valuations as trading volumes surged in recent months. On October 7, Intercontinental Exchange — parent company of the New York Stock Exchange — invested $2 billion in Polymarket, valuing it at $9 billion.
Meanwhile, Kalshi raised $300 million in a Series D round at a $5 billion valuation, with backing from major investors including Sequoia Capital, Andreessen Horowitz, Paradigm, and Coinbase Ventures.
Overall, the sector’s weekly trading volume across all platforms hit a record high of $2.03 billion for the week ending October 13, according to data from Dune.
Sources:
https://cointelegraph.com/news/dex-aggregator-jupiter-q4-full-launch-new-predictions-market
https://x.com/JupiterExchange/status/1980832023246999553
https://dune.com/dunedata/prediction-markets