Jupiter launches F1 Mexican Grand Prix prediction market

Jupiter (JUP), a decentralized exchange built on Solana (SOL), launched a prediction market using the decentralized prediction platform Kalshi's technology. The first event is a prediction for the winner of the Formula One (F1) Mexican Grand Prix held on October 27.

According to CoinDesk on the 22nd (local time), Jupiter's new platform allows users to trade on who among the main drivers — Max Verstappen, Lando Norris, Oscar Piastri, George Russell — will win. The race takes place in the early hours of the 28th Korean time and consists of 71 laps.

The prediction market infrastructure is supported by event-based trading platform Kalshi. Kalshi is a prediction market operator licensed by the U.S. Commodity Futures Trading Commission (CFTC), and Jupiter said it provides high liquidity and regulatory compliance, enhancing credibility and stability. This allows users to bet on real-world events quickly and transparently.

Participants can buy and sell shares in the form of 'Yes (YES)' or 'No (NO)' on whether each driver will win, and prices fluctuate according to supply and demand. Traders can close positions at any time before the race ends. When the race result is confirmed, positions corresponding to the correct answer are settled at $1, and incorrect ones become worthless.

Jupiter will operate the launch as a beta service and has set trading limits for market stability. The total number of contracts is limited to a maximum of 100,000, and the per-person position limit is 1,000.