Jupiter, a Solana-based decentralized exchange (DEX), started a prediction market with the inaugural event tied to the outcome of the upcoming Formual One Mexico Grand Prix.
The platform, powered by Kalshi, a leader in event-based trading, invites fans and traders to speculate on whether their favorite driver, including Max Verstappen, Lando Norris, Oscar Piastri, George Russell or others, will claim victory. The race will take place on October 27 starting at 19:00 UTC and will consist of 71 laps.
Kalshi’s support is crucial because it brings established liquidity and regulatory compliance to the market, enhancing user trust and stability. This could transform the way users interact with real-world events by offering fast, transparent and low-cost betting.
The prediction market industry has seen rapid growth as it combines elements of finance, gaming and social engagement, allowing users to speculate on real-world events with transparency and liquidity. According to Dune Analytics, leading platforms Kalshi and Polymarket together recently recorded a record weekly trading volume of over $2 billion.
Market participants can buy and sell “yes” and “no” shares in a variety of options linked to the Grand Prize winner. The prices of these stocks are determined by supply and demand, and traders retain the flexibility to exit positions at any time before the betting contract ends. At the end of the event, winning positions pay $1 each, while incorrect bets expire worthless.
As a beta offering, Jupiter has implemented initial trading limits to ensure market stability, including a global maximum of 100,000 contracts and a maximum of 1,000 contracts per individual position.
