- On Wednesday, Jupiter said the beta version of the Jupiter Prediction Market has just gone live.
- The company’s goal is to provide consumers with a diverse range of services on a single platform; prediction markets would help them achieve this goal and attract more users.
Jupiter, a decentralized exchange aggregator based on Solanais working with Kalshi to develop a new product for the native predictions market and aims to launch it before the end of the year.
On Wednesday, Jupiter said the beta version of the Jupiter Prediction Market has just gone live. Users will be able to bet on the outcomes of events thanks to Kalshi’s liquidity for Jupiter’s new offering.
According to Jupiter Exchange COO Kash Dhanda, the company’s goal is to provide consumers with a diverse range of services on a single platform; prediction markets would help them achieve this goal and attract more users.
Dhanda said:
“Prediction Markets represent a powerful evolution of the types of assets available onchain, and we are excited to partner with Kalshi to bring them to Solana.”
Emerging prediction markets
Dhanda said the platform would see an influx of new users due to the growing 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. Token holders will reap the benefits of the new prediction market in the long term, according to Dhanda.
Jupiter, according to Dhanada, will use customer feedback to make the product better. Additionally, he said the prediction market is scheduled to be fully introduced in the fourth quarter. Currently, the beta version is limited to only one market: the prediction of the Formula 1 race winner for the next Mexico Grand Prix. There is a cap of 100,000 contracts worldwide, and each position can only hold 1,000 contracts.
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