The Solana-based decentralized exchange aggregator Jupiter plans to fully launch a new native prediction market product developed in collaboration with Kalshi in the fourth quarter.

Jupiter announced on Wednesday that it has launched the Jupiter Prediction Market beta, a product that is liquidity-provided by Kalshi, allowing users to bet on event outcomes on the platform.

Kash Dhanda, Chief Operating Officer of Jupiter Exchange, stated in an interview with Cointelegraph that Jupiter aims to provide users with a diverse range of products on the same platform, and the prediction market will also help attract more users.

Dhanda mentioned that the prediction market represents a significant evolution of on-chain asset types, and Jupiter is looking forward to its collaboration with Kalshi, planning to introduce this product into the Solana ecosystem.

Dhanda pointed out that the prediction market is growing rapidly, which will drive the platform to acquire new users.

According to the third-quarter token holder report, as of the third quarter, Jupiter's active user count reached 8.4 million, a 5% increase from the previous quarter.

When asked how the new prediction market would benefit token holders, Dhanda said, "As our prediction market expands, our user coverage, cross-product synergy, and revenue will also grow, which is a long-term benefit for JUP token holders."

Dhanda also stated that Jupiter will continuously optimize the product based on user feedback and noted that the prediction market will be fully launched in the fourth quarter.

Dhanda added that Jupiter will continue to iterate on the product, enhance limits based on user feedback, add more markets, and prepare for the full launch in the fourth quarter.

The beta currently offers only one market, which is which Formula 1 driver will win the upcoming Mexican Grand Prix.

The maximum number of contracts set globally is 100,000, with an individual position limit of 1,000 contracts.

Currently, the trading volume of the first test market has surpassed the milestone of $100,000, with F1 driver Max Verstappen leading, as nearly 46% of users predict that this Dutch-Belgian racer will win the race, while British driver Lando Norris ranks second with a 27% win rate.

Polymarket and Kalshi, as two leading prediction market platforms, have recently seen a surge in trading volume on their respective platforms, significantly boosting their valuations.

On October 7, the parent company of the world's largest stock exchange, NYSE, Intercontinental Exchange, invested $2 billion in Polymarket, raising its valuation to $9 billion.

At the same time, Kalshi raised $300 million in a Series D funding round, with the company's valuation reaching $5 billion. Investors include Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.

These investments come at a time when the prediction market industry is rapidly developing overall. Dune dashboard data shows that as of the week of October 13, weekly trading volumes across platforms reached a historic high of $2.03 billion.

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Original: “Jupiter plans to fully launch its new prediction market by 2026”

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