CMC News

Kalshi Tokenizes Prediction Markets Using Solana Blockchain

#Kalshi has tapped Solana to move its prediction markets on-chain and enable permissionless monetization of its global liquidity pool. The U.S.-based #prediction market platform is launching tokenized versions of thousands of its betting markets in a bid to attract a crypto-native user base and secure liquidity.

The move deepens Kalshi's competition with Polymarket, which is native to the #Polygon blockchain, as both platforms continue to surge in growth. November represents the biggest month yet for both platforms, with Kalshi's spot volume climbing to $5.8 billion and Polymarket's rising to over $3.7 billion.

The emerging duopoly kicked into hyper-growth following a policy reversal at the U.S. Commodity Futures Trading Commission, which had historically taken a cautious approach toward the largely academic world of event derivatives. Last week, the #CFTC officially cleared the way for Polymarket to reenter the U.S. after initially banning the unregistered platform.

Kalshi now appears willing to go head-to-head with Polymarket in the on-chain economy. The firm is reportedly working with $SOL-based protocols DFlow and Jupiter to help bridge its off-chain orderbook to Solana's liquidity and on new Kalshi Builder Codes.

The Builder Codes enable users to permissionlessly monetize applications on top of Kalshi's global liquidity pool. Trading terminals, weather sites, AI agents, and anything users want to build can now earn fees and rewards proportional to volume, according to Kalshi's announcement.

Support is already live, with decentralized finance protocols DFlow and Jupiter connecting Kalshi's off-chain order book to #Solana liquidity. Kalshi's head of crypto, John Wang, stated the move is designed to tap deeper pools of capital as prediction-market activity accelerates.