Jupiter, a Solana-based decentralized exchange (DEX), has launched a prediction market with the inaugural event tied to the outcome of the upcoming Formual One Mexico City Grand Prix.
The platform, powered by Kalshi, a leader in event trading, invites fans and traders to speculate on whether their favorite driver, including Max Verstappen, Lando Norris, Oscar Piastri, George Russell or others, will take victory. The race will take place on October 27 from 7:00 p.m. UTC and will consist of 71 laps.
Kalshi’s support is crucial as it brings established liquidity and regulatory compliance to the market, thereby building user trust and stability. This could transform the way users participate in real-world events by providing fast, inexpensive and transparent betting.
The prediction market industry has grown rapidly 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 saw a record weekly trading volume of over $2 billion.
Market participants can buy and sell “yes” and “no” stocks based on a variety of choices related to the Grand Prize winner. The prices of these stocks are determined by demand and supply, with traders retaining the option to exit their positions at any time before the end of the betting contract. At the end of the event, winning positions pay out $1 each, while bets that turn out to be wrong expire worthless.
As a beta offering, Jupiter has implemented initial trading limits to ensure market stability, including an overall maximum of 100,000 contracts and a maximum of 1,000 contracts per individual position.
