Solana-based decentralized exchange Jupiter has launched the first prediction market related to the outcome of the upcoming Formula 1 Mexican Grand Prix.
This new platform from Carsi, a leader in event-driven trading, invites fans and traders to speculate whether their favorite drivers such as Max Verstappen, Lando Norris, Oscar Piastri and George Russell will emerge victorious. The Grand Prix will start at 19:00 UTC on October 27th and will consist of 71 laps.
Kalsi’s support is critical as it brings established liquidity and regulatory compliance to the prediction market, increasing user confidence and stability. This could change the way users participate in real-world events by offering fast, low-cost, and transparent betting.
The prediction markets sector is rapidly growing by combining elements of finance, gaming, and social engagement to enable users to speculate on real-world events with transparency and fluidity. According to Dune Analytics, recently leading platforms Kalshi and Polymarket have recorded a cumulative weekly trading volume of over $2 billion.
Market participants can buy or sell “yes” or “no” shares based on various choices related to the grand prize winner. The prices of these stocks are determined by supply and demand factors, and traders retain the flexibility to exit their positions at any time before the betting contract ends. At the end of the event, each winning position will be paid $1, but any bets that turn out to be incorrect will expire void.
As a beta version, Jupiter introduced initial trading limits to ensure market stability, including a maximum of 100,000 contracts worldwide and a maximum of 1000 contracts per individual position.
