October 22, 2025 — Solana-based decentralized exchange Jupiter has launched the beta version of its first-ever Prediction Market, allowing users to place bets on the outcome of the upcoming Mexico Grand Prix. The launch marks Jupiter’s entry into one of the fastest-growing sectors in decentralized finance (DeFi).
In its announcement on X, Jupiter said:
“Max Verstappen, or Lando Norris? Oscar Piastri or George Russell? Jupiter’s first ever Prediction Market is now LIVE (in beta).”
The market’s liquidity is powered by Kalshi, a U.S.-regulated prediction market platform that has been operating since 2021. Users can now wager on their preferred Formula 1 drivers, with betting limits set at 100,000 for global contracts and 1,000 for position contracts during the beta phase.
Verstappen Leads Early Predictions
As of launch, Max Verstappen is the favorite to win the Mexico Grand Prix, commanding 47.61% of total bets. Lando Norris follows with 27.3%, while Oscar Piastri ranks third with 23%.
Within hours of release, the test market recorded a trading volume exceeding $52,000. The Mexico Grand Prix takes place from October 25–27, with Jupiter’s market expected to close after the race concludes on October 27.
How It Works
Jupiter’s new prediction platform operates similarly to Kalshi and Polymarket, where users trade on binary outcomes — “YES” or “NO.” The price of each position fluctuates based on market activity, and traders can sell before the event concludes.
Winning positions are redeemed for $1 per correct outcome, while losing ones return nothing. Jupiter emphasized that the system is designed for transparency and simplicity while remaining decentralized and self-custodial.
Growing Demand for On-Chain Prediction Markets
The launch comes amid growing momentum in the DeFi prediction market sector. According to DeFi Llama, total value locked (TVL) across all prediction platforms has reached $241.9 million, generating $422,000 in fees and $396,000 in revenue in the past week alone.
Polymarket dominates the space with $215.5 million in TVL, accounting for nearly 90% of the on-chain total, followed by Gnosis Protocol v1 ($7.45M) and Football.Fun on Base ($5.09M).
Jupiter’s entry adds a new Solana-powered contender to the mix, expanding use cases beyond trading and lending into social prediction markets — a rapidly growing segment of crypto adoption.
While the beta version currently focuses on Formula 1, Jupiter hinted that future updates may introduce broader categories such as politics, entertainment, and financial markets, after completing initial stress tests and user feedback cycles.
