Solana

Jupiter

Robinhood

Polymarket

<p>Kalshi is pushing prediction markets further into the crypto space as global demand accelerates. Rising interest in event-based trading has prompted the platform to tokenize event contracts on Solana, giving users more in sensitive markets. Analysts say this shift could position Kalshi to challenge competitors and keep pace with the industry’s rapid growth.</p>
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  <h2 class="in-brief--title" id="in-brief">In brief</h2>
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   <li>Kalshi launches tokenized event contracts on Solana, giving traders more privacy and access to crypto-based liquidity pools.</li>
   <li>DFlow and Jupiter connect Kalshi’s off-chain orderbook to Solana, improving execution and expanding market access for users.</li>
   <li>Prediction markets hit nearly $28B in volume, driven by political strain, global uncertainty, and rising event-driven trading.</li>
   <li>Kalshi’s rapid growth follows major funding rounds as rivals like Polymarket, Robinhood, and Coinbase expand into the sector.</li>
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<h2 id="h-dflow-and-jupiter-link-kalshi-s-off-chain-markets-to-solana-s-trading-layer">DFlow and Jupiter Link Kalshi’s Off-Chain Markets to Solana’s Trading Layer</h2>
<p>Kalshi has begun allowing users to buy and sell tokenized versions of its event contracts on the <a href="https://www.cointribune.com/en/solana-blockchain-dominates-defi-with-record-breaking-numbers/" target="_blank" rel="noopener noreferrer nofollow">Solana blockchain</a>, according to a Monday report from CNBC. Traders can now access on-chain versions of markets tied to U.S. elections, sports results, economic data releases, and other major events.&nbsp;</p>
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<p>This expansion lets users maintain privacy while tapping into crypto-native liquidity, rather than relying solely on Kalshi’s standard interface.</p>
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<p>As part of this transition, decentralized finance protocols DFlow and Jupiter will act as institutional clients. Basically, they will connect Kalshi’s off-chain orderbook to Solana’s trading infrastructure, offering access to deeper liquidity pools and smoother execution.</p>
<p>Demand across prediction markets has surged, with combined volume reaching nearly $28 billion in October. The sector even hit a weekly volume record of $2.3 billion during the week of October 20, as captured by Crypto.com’s research team.&nbsp;</p>
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<p>Crypto observers have pointed to political strain, global uncertainty, and rising interest in event-driven speculation as the main catalysts.</p>
<p>Kalshi’s strategy brings several functional changes that may reshape how traders interact with the platform:</p>
<ul>
 <li>Tokenized contracts can circulate throughout the Solana ecosystem.</li>
 <li>On-chain settlement removes friction for users already active in crypto.</li>
 <li>Liquidity increases as <a href="https://www.cointribune.com/en/defi-development-invests-16-million-dollars-in-solana/" target="_blank" rel="noopener noreferrer nofollow">DeFi</a> protocols route order flow into Kalshi markets.</li>
 <li>Privacy strengthens because activity occurs through blockchain addresses.</li>
 <li>Secondary markets become easier to access, enabling faster and more flexible trading.</li>
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<h2 id="h-major-exchanges-push-into-event-markets-as-competition-widens">Major Exchanges Push Into Event Markets as Competition Widens</h2>
<p>John Wang, who leads Kalshi’s crypto division, told CNBC that access to the broader <a href="https://www.cnbc.com/2025/12/01/kalshi-makes-move-to-court-crypto-traders-with-tokenized-betting-contracts.html" target="_blank" rel="noopener noreferrer nofollow">$3 trillion digital asset market</a> will help the company support rising demand and maintain liquidity as interest in event markets grows.</p>
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 <p><em>There’s a lot of power users in crypto. This is about tapping into the billions of dollars of liquidity that crypto has, and then also enabling developers to build third party front ends that utilize Kalshi’s liquidity.</em></p> <cite>John Wang</cite>
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<p>Kalshi, founded in 2018, became the first exchange to offer federally regulated event contracts tied to U.S. congressional races in late 2024. That milestone followed a long legal dispute with the Commodity Futures Trading Commission. After a court ruling in Kalshi’s favor, platform activity rose ahead of the U.S. election cycle, prompting the CFTC to drop its appeal in May.</p>
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<p>Growth has continued through several major funding rounds. Last fall, the company raised more than $300 million at a $5 billion valuation while expanding to more than 3,500 active markets across 140 countries. Another raise in November <a href="https://www.cointribune.com/en/kalshi-doubles-valuation-in-a-month-amid-investor-frenzy/" target="_blank" rel="noopener noreferrer nofollow">brought in $1 billion</a> at an estimated valuation near $11 billion.</p>
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<p>However, Kalshi is not alone in this rapid expansion of prediction markets. Polymarket received a $2 billion investment from the Intercontinental Exchange. Platforms such as <a href="https://www.cointribune.com/en/tag/robinhood-en/" target="_blank" rel="noopener noreferrer nofollow">Robinhood</a> and Coinbase have also been moving deeper into the sector.</p>

Kalshi Extends Prediction Market Reach With Tokenized Contracts on Solana

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