- On Wednesday, Jupiter said that its Jupiter Prediction Market beta version has just gone live.
- The company’s objective is to provide consumers with a diverse range of services on a single platform; prediction markets would help them achieve this aim and attract more users.
Jupiter, a decentralized exchange aggregator based on Solana, is working with Kalshi to develop a new native predictions market product, and it aims to launch it before the year ends.
On Wednesday, Jupiter said that its Jupiter Prediction Market beta version has just gone live. Users will be able to bet on the results of events thanks to Kalshi’s liquidity for Jupiter’s new offering.
According to Jupiter Exchange COO Kash Dhanda, the company’s objective is to provide consumers with a diverse range of services on a single platform; prediction markets would help them achieve this aim and attract more users.
Dhanda stated:
“Prediction Markets represent a powerful evolution in the types of assets that are available onchain, and we’re thrilled to partner with Kalshi to bring them to Solana.”
Burgeoning Prediction Markets
Dhanda said that the platform would see an influx of new users due to the burgeoning prediction markets. According to the Q3 token holder report, Jupiter has 8.4 million active users as of the third quarter, which is a 5% increase from the previous quarter. Tokenholders will reap the benefits of the new prediction market in the long run, according to Dhanda.
Jupiter, according to Dhanada, will utilize customer comments to make the product better. Additionally, he said that the prediction market is scheduled to be completely introduced in the fourth quarter. At this time, the beta version is limited to only one market: the prediction of the Formula One race winner for the next Mexico Grand Prix. There is a cap of 100,000 contracts worldwide, and each position may only have 1,000 contracts.
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