Solana-based decentralized exchange aggregator Jupiter plans to launch its new prediction market before the end of the year. On Wednesday, Jupiter announced the beta version of its Prediction Market, created in partnership with Kalshi, which will provide liquidity. The platform aims to offer a wide range of services to attract more users. Chief Operating Officer Kash Dhanda noted that prediction markets are evolving the types of assets available on-chain and expressed excitement about this partnership.

Dhanda highlighted that prediction markets are growing quickly and will help Jupiter gain new users. As of the third quarter, Jupiter had 8.4 million active users, a 5% increase from the previous quarter. He explained that as prediction markets expand, they will also enhance the platform’s reach and revenue, benefiting JUP tokenholders in the long run. User feedback will be taken into account to refine the product.

The full launch of the prediction market is expected in the fourth quarter, with updates to be made based on user input. Currently, the beta version features one market focused on predicting the winner of the upcoming Mexico Grand Prix in Formula One. The maximum contracts for the market are set at 100,000, with individual positions limited to 1,000 contracts. The initial market volume has surpassed $100,000, with driver Max Verstappen leading in predictions.

Overall, the prediction market industry is expanding, with leading platforms like Polymarket and Kalshi experiencing increased valuations. As of mid-October, weekly trading volume across these platforms reached an all-time high of $2.03 billion.