Solana’s leading DEX aggregator is expanding into a exciting new territory. Jupiter has officially launched the beta version of its Jupiter prediction market, marking a significant move beyond simple token swaps. The first test market lets users bet on who will win this weekend’s Mexico Grand Prix, bringing real-world sports betting on-chain.
How the Jupiter Prediction Market Works
The new Jupiter prediction market functions similarly to established platforms like Polymarket. Users can trade YES or NO positions on specific outcomes—in this case, which Formula 1 driver will win the race. The prices fluctuate based on betting activity, and users can exit their positions anytime before the market resolves.
For this initial beta, Max Verstappen leads the betting with 47.6% odds, followed by Lando Norris at 27.3%. The market has already seen over $52,000 in volume within hours of launching, showing strong early interest. The platform is powered by Kalshi, a regulated U.S. prediction market operator, providing crucial liquidity and legitimacy.
The Bigger Prediction Market Picture
This Jupiter prediction market launch enters a rapidly growing sector. According to DeFi Llama, prediction markets now hold $242 million in total value locked, with Polymarket dominating nearly 90% of the market. The space has generated over $422,000 in fees just this past week, proving there’s real demand for these services.
The timing is particularly interesting as Polymarket itself is reportedly preparing to launch a native token. However, sources suggest this might be delayed until after the platform makes its potential return to the U.S. market, three years after its regulatory exit in 2022.
My Thoughts
This is a massive step for Jupiter in becoming a comprehensive DeFi hub rather than just a swap aggregator. By integrating prediction markets, they’re tapping into a proven use case with strong user engagement. While Polymarket currently dominates, Jupiter’s massive existing user base could quickly make it a serious competitor. This could be the feature that keeps users within the Jupiter ecosystem for more than just token swaps.
