The battle for prediction market supremacy just moved on-chain. Kalshi, a federally regulated prediction platform in the U.S., has launched tokenized versions of its event contracts on the Solana blockchain this week.
Event contracts let a user bet on whether something will happen—like who wins an election or if inflation hits a certain level.
At the December 1 launch, DFlow and Jupiter were announced as the core partners for bridging off-chain orders to on-chain liquidity, with the system built for broader adoption across the ecosystem. In practice, investors can readily use Jupiter with a Phantom wallet to trade Kalshi’s contracts, while DFlow operates in the background to ensure smooth execution.
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Trading positions can be entered or exited at any time, with the same liquidity and speed as trading any other crypto asset. The on-chain experience delivers near-instant settlement, almost zero fees, and significantly higher privacy than the KYC-required centralized platform, while every outcome remains resolved and guaranteed by the federally regulated exchange. Kalshi has effectively turned thousands of its event contracts into 24/7 tradable crypto assets.
This puts Kalshi on equal footing with Polymarket, which has operated on blockchain since its launch, allowing users to trade anonymously with crypto wallets.
Chasing the Crypto Dream
The reason for the latest development is simple: Kalshi needs more money flowing through its platform. John Wang, head of Crypto at Kalshi, says getting access to crypto’s billions helps the platform offer better betting prices and grow faster.
The timing is key. Polymarket recently got clearance from U.S. regulators to operate again in the American market after paying a $1.4 million fine in 2022 for unlicensed trading.
With Kalshi entering the blockchain space, there can be a showdown between the two platforms. In November, Kalshi handled $5.8 billion in trades compared to Polymarket’s $3.7 billion. Indeed, the industry is entering its most competitive era, and the platform that scales fastest may end up defining the future.
