Key Takeaways:

Jupiter is a high stakes game and one of the most active Solana based DEX to have ventured into the prediction game. Its new beta-prediction market, fuelled by Kalshi, is a strategic change of going to live micro-betting on real-time events, beginning with Formula 1.

Jupiter is not just another property of the DEX that entails the entry of prediction markets but a calculated market entry into a fast-growing and booming market. The beta launch introduces a single prediction pair: “Who will win the Mexico Grand Prix?”. It is now possible to make a direct speculation on the result and buy and sell tokens of “Yes” or “No” using the Kalshi liquidity and data platform.

In a bid to provide its new feature, Jupiter uses its internal market data through Kalshi which is regulated by CFTC. In this partnership, Jupiter would benefit since it would be in a position to provide fully regulatory real-life event markets without a regulation, complex back-end.

The opportunity to watch the races betting on such a racer can also be used in Mexico Grand Prix market. Prices and odds are becoming dynamic where other market players are venturing into the market. The crowd mood is reflected on the prices in real-time, and offers real-time trading experience in short-duration events.

Read More: Jupiter to Launch JupUSD Stablecoin, Powered by Ethena Labs

This merger between Jupiter and Kalshi is a merger to an already existing flaming competition between Polymarket and Kalshi, the two largest prediction space brokers. They are both vying to control a market that will be contributing up to $1B dollars in revenue in 2021 and then to $3.5B in 2026 and a good share of micro-bets, which are determined in minutes.

According to Dune Analytics, Kalshi controls volume and open interest and occupies 70% of the market share in notional volume. It enjoys the advantage of being integrated with Robinhood and more control over the mechanics of resolution. Polymarket, nevertheless, is still popular in political and crypto-related events and markets in non-sports.

The competitors of the two platforms are retail traders. Kalshi is captivating with KOLs and formal offers, Polymarket is counting on the first-mover advantage and word of mouth.

The level of competition increased due to recent integrations:

The retail demand is growing at an unheard of rate but controversies exist on resolutions. A loss of $2.000 due to a poor understanding of a misspoken word by Kalshi is one of the examples of a viral case that tints the concept of transparency.

The predictive platforms are in the competition of micro-betting, event betting and short-term betting with immediate results. This is because such fast-moving markets are attractive to crypto-native customers interested in receiving quick payoffs.

This type of a model addresses a transparent character of blockchain that is real-time. It is verifiable, trusting and all the trades are on-chain and can never be modified.

Jupiter markets permit:

Kalshi and Polymarket are making 15-minute crypto, sport and political predictions. Jupiter comprises cheaper prices, faster transactions, and Solana access.

According to DeFi Llama:

Polymarket has the largest TVL of $215.55M, then Gnosis Protocol v1 (7.45M) and Football.Fun (5.09M).

However, the shift in user preferences can be signaled by the decision Jupiter makes. Prediction markets Solana will be able to supplant the existing market giants, especially as micro-bets become mainstream.

Read More: Solana Says It’s Quantum-Resistant: What Does It Mean for Crypto? – CryptoNinjas

The post Jupiter Launches Prediction Market with Kalshi-powered Micro-Bets appeared first on CryptoNinjas.

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