Kalshi tokenizes ‘thousands’ of its prediction markets using Solana
Kalshi is launching tokenized versions of thousands of its prediction markets on the Solana blockchain to attract crypto users and boost liquidity.Summary
U.S.-based prediction market Kalshi is significantly expanding its on-chain presence by tokenizing thousands of its betting markets using the Solana blockchain. This strategic move aims to attract a crypto-native user base and enhance liquidity, intensifying competition with Polygon-native Polymarket. Both platforms experienced their biggest month yet in November, with Kalshi's volume reaching $5.8 billion. Kalshi is reportedly collaborating with Solana protocols DFlow and Jupiter to bridge its off-chain orderbook to Solana's liquidity, enabling developers to build applications earning fees on this liquidity pool. This follows Kalshi's previous grant program on Solana and Base, and the company's recent $1 billion funding round at an $11 billion valuation. The move suggests Kalshi is ready to compete directly with Polymarket in the decentralized economy, even as a significant portion of its volume still relies on distribution partners like Robinhood.
(Source：The Block)