Jupiter, a Solana-based decentralized exchange (DEX), started a prediction market with the initial event tied to the outcome of the upcoming Formula One Mexico Grand Prix.
The platform, powered by Kalshi, a leader in event-driven trading, invites fans and traders to speculate whether their favorite drivers, 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 comprise 71 laps.
The Kalshi support is essential because it brings established liquidity and regulatory compliance to the market, increasing confidence and stability for users. This could change how users engage with real-world events by offering fast, cheap and transparent 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 on a variety of options tied to the Grand Prix winner. The prices of these shares are determined by supply and demand, with traders retaining the flexibility to exit positions at any time before the expiry of the betting contract. At the end of the event, winning positions pay out $1 each, while bets that turned out to be incorrect 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 day. individual position.
