Kalshi announced the launch of tokenized predictions on the Solana (CRYPTO: SOL) network on Monday, enabling users to trade its contracts on-chain.
Kalshi Calls Tokenization The ‘Endgame’
Kalshi posted on X about the new development, stating that it will tap into “billions of on-chain liquidity” through tokenized predictions, aided by Solana-based decentralized finance protocols such as DFlow and Jupiter.
“Tokenization is the endgame. It is non-custodial, instant, and crypto native,” Kalshi said in a press release.
It teased a “hybrid request for quote” system that would automatically execute trade on-chain.
“This structure gives builders and traders a fast, transparent, and fully programmable way to interact with real-world events,” the company added.
Kalshi Matches Polymarket
Tokenization, simply put, is the process of creating a digital representation of a real thing, such as stocks, bonds or real estate.
Jupiter Exchange features a front-end similar to Kalshi, offering contracts on sports, politics and cryptocurrencies. Like Polyamrket, users can also buy shares using USDC.
Kalshi Records $5.8 Billion In Trading Volume In November
Kalshi has been experiencing significant growth lately. The company’s valuation soared to $11 billion following a reported $1 billion funding round.
The platform's total trading volume has exceeded $19 billion as of this writing, out of which $5.8 billion was recorded in November alone, according to Dune Analytics.
However, the platform has also faced challenges. Last week, a Nevada judge reversed an earlier court victory for the company, declaring that contracts based on sporting event outcomes are not subject to the Commodity Futures Trading Commission.
Price Action: At the time of writing, SOL was exchanging hands at $127.46, up 0.31% in the last 24 hours, according to data from Benzinga Pro.
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