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Solana-based decentralized exchange Jupiter has launched a beta prediction market, allowing users to bet on the Mexico Grand Prix winner in its first test of blockchain-based forecasting.
The market drew over $52,000 in trading volume within hours of launch and is powered by liquidity from Kalshi, a US-regulated prediction platform. Jupiter plans to expand beyond sports betting to politics, crypto prices, and major economic events once the beta concludes.
Announced in a recent post on X (formerly Twitter), Jupiter invited users to wager on their favorite F1 racers, writing, “Max Verstappen, or Lando Norris? Oscar Piastri or George Russell? Jupiter’s first ever Prediction Market is now LIVE (in beta).”
The Jupiter prediction market is powered by liquidity from Kalshi, a U.S.-regulated prediction market platform that has operated since 2021. Although still in beta, users can bet on global contracts capped at $100,000 and position contracts limited to $1,000.
According to data from the platform, early trading volume surpassed $52,000 within hours of launch. The market will remain open until the Mexico Grand Prix concludes on October 27, when the final outcome determines payouts.
In its first iteration, the Jupiter prediction market focuses on Formula 1 racing which is a global sport with millions of fans and a fast-paced environment well-suited for prediction-based trading.
Dutch-Belgian driver Max Verstappen currently leads the odds at 47.61%, followed by Lando Norris at 27.3% and Oscar Piastri at 23%. The live betting structure reflects how decentralized prediction markets mirror traditional betting platforms but run on transparent, blockchain-based systems.
Prediction markets like Jupiter’s operate using YES/NO contracts tied to specific outcomes. Users can buy or sell positions before the market closes, with correct bets earning a fixed $1 payout per share. If the prediction is wrong, the position becomes worthless.
As the Jupiter prediction market scales, the project aims to extend its model beyond sports to cover categories such as politics, crypto price movements, and major economic events. The developers have not yet disclosed when the full version will launch.
Prediction markets have proven to be a unique intersection of finance, data, and community engagement, said Ethan Wu, a DeFi market analyst at ChainArgus. The Jupiter prediction market could bring this dynamic model to Solana’s ecosystem with real-world relevance.
The Jupiter prediction market launch comes at a time of significant growth in decentralized forecasting platforms. According to DeFi Llama, prediction market protocols collectively hold $241.9 million in total value locked (TVL).
Over the past week alone, these platforms generated $422,297 in fees and $396,466 in revenue, highlighting their increasing economic footprint within decentralized finance (DeFi).
Currently, Polymarket dominates the sector with over $215 million in TVL, accounting for nearly 90% of the total market share, followed by Gnosis Protocol v1 with $7.45 million, and Base’s Football.Fun app at $5.09 million.
Industry observers note that Jupiter’s entry could diversify the market and strengthen Solana’s position as a hub for innovative financial products.
“Solana’s network speed and low fees make it an ideal environment for markets requiring real-time interaction,” said Lina Zhang, Head of Research at SolDeFi Labs. “The Jupiter prediction market leverages these strengths effectively.”
While still in beta, the Jupiter prediction market represents a broader shift toward “event-driven DeFi,” where blockchain users speculate on real-world events from elections to entertainment outcomes.
Like its peers Kalshi and Polymarket, Jupiter’s platform operates on transparent smart contracts, ensuring users can verify liquidity, outcomes, and payouts directly on-chain. Its partnership with a regulated U.S. entity like Kalshi also suggests an interest in bridging decentralized tools with compliant financial systems.
As the market awaits its official rollout, community feedback will likely determine feature priorities such as expanded categories, advanced analytics, and mobile accessibility.
The timing of this launch just weeks before the Mexico Grand Prix appears deliberate, providing a high-profile test case for the Jupiter prediction market’s scalability and appeal. With Formula 1’s global fanbase and growing crossover between sports and crypto, Jupiter could be setting the stage for mainstream adoption of blockchain-based forecasting.
“Prediction markets could soon become a primary use case for decentralized finance,” said Mark O’Leary, Head of Research at DeFi Insight. “The Jupiter prediction market shows how crypto can make event betting transparent, fair, and globally accessible.”
The Jupiter prediction market is still in its infancy, but its debut aligns with the broader movement toward user-driven, decentralized systems that blend speculation, data, and entertainment. As it matures, its integration with other Solana-based applications could turn it into a major player in the prediction economy.
With early momentum, strong liquidity support, and growing market interest, the Jupiter prediction market could redefine how blockchain users engage with real-world events, one race, election, or outcome at a time.
