Jupiter & Kalshi Launch Solana F1 GP Prediction Market Beta
Solana DEX aggregator Jupiter has teamed up with US-regulated exchange Kalshi to launch a beta prediction market for the F1 Mexico Grand Prix. Starting October 22, traders can use Phantom and other Solana wallets to buy binary YES/NO contracts on drivers winning the October 27 race at Autódromo Hermanos Rodríguez. Contracts trade between $0.01 and $0.99, reflecting implied win odds—currently Max Verstappen at 47.6%, Lando Norris at 27.3% and Oscar Piastri at 23%. The beta generated $52,290 in volume shortly after launch. Jupiter’s prediction market integrates Kalshi’s event data API for result verification and its V6 aggregator for optimal liquidity routing and low fees. With minimal bet sizes, fast on-chain settlements and Solana’s high throughput, the platform targets both F1 fans and DeFi traders. Jupiter’s total value locked has climbed to $3.76 billion, making it the second-largest DeFi protocol on Solana. The launch marks its move beyond token swaps into regulated derivatives. Overall TVL in on-chain prediction markets stands at $241.9 million, led by Polymarket with $215.55 million. Traders may leverage this new DeFi tool to develop fresh strategies on Solana.
Bullish
Jupiter’s new beta prediction market on Solana is expected to increase network usage and drive demand for SOL in both the short and long term. Short-term, the F1 Mexico GP betting will generate spikes in transaction volume and fees, benefiting validators and token burn mechanisms. Long-term, expanding into regulated derivatives with Kalshi integration enhances Solana’s DeFi ecosystem and platform utility, attracting more users and capital into SOL staking and governance. Overall, this development supports a bullish outlook for SOL.