Yeliz Akmaca 
Kalshi has launched tokenized event bets on the Solana blockchain, marking its most direct step toward attracting crypto traders already active in on-chain markets. The company told CNBC that Solana support is now fully live, allowing its existing event markets to be traded in tokenized form. This move aims to tap into crypto liquidity as prediction markets continue to grow.
The integration tokenizes Kalshi’s policy and macro event markets, enabling them to trade directly on Solana. Tokenized contracts function like Kalshi’s traditional products, but the on-chain structure adds anonymity and aligns the platform more closely with models popularized by Polymarket. This development also positions Kalshi to meet rising demand as global interest in prediction markets increases.
How Solana Integration Expands Kalshi’s Liquidity
According to John Wang, Kalshi’s head of crypto, tokenization provides access to billions of dollars in on-chain liquidity. This deeper liquidity supports more accurate pricing, faster trade execution, and scaling across a larger user base. Wang said developers can also build third-party front-ends that plug directly into Kalshi’s liquidity, opening up a wider ecosystem of prediction-focused applications. This approach strengthens the platform’s competitiveness at a time when prediction markets are expanding rapidly.
Solana’s fast and low-cost infrastructure further boosts the appeal of tokenized event contracts. With growing on-chain activity and increasing interest in crypto-based predictions, Kalshi’s strategy positions the platform to grow quickly. Meanwhile, DeFi protocols such as Jupiter and DFlow are already linking Kalshi’s off-chain order book to Solana liquidity, creating a smoother trading experience.
Polymarket and Kalshi Surge in Financial Prediction Markets
Rising Competition With Polymarket in the U.S.
Founded in 2018, Kalshi became the first federally regulated exchange to offer event contracts tied to U.S. congressional races after winning a long legal battle with the Commodity Futures Trading Commission. Since then, the platform has expanded to around 3,500 markets and secured major funding, reaching a multi-billion-dollar valuation. This growth mirrors a broader trend: prediction markets are becoming a major segment of the crypto ecosystem.
However, competition is accelerating as Polymarket increases its presence in the U.S. market. To stay ahead, Kalshi needs stronger liquidity sources, and Wang believes crypto traders can provide this advantage. He emphasized that digital asset holders trade at higher volumes and show stronger engagement than traditional users, offering a major boost to Kalshi’s overall market depth.
Tokenized Event Markets: A New Phase for Crypto Predictions
The launch on Solana signals a new era for event-based trading, combining real-world outcomes with blockchain-based settlement. These tokenized markets allow users to trade quickly, cheaply, and with improved anonymity. By bridging its off-chain systems with Solana’s on-chain liquidity, Kalshi delivers faster order execution and more competitive pricing. This helps the prediction market become more accessible to global crypto users.
Kalshi’s expansion into tokenized event markets highlights how blockchain and real-world predictions are converging. As interest grows worldwide, platforms offering more liquidity, lower fees, and better user tools are likely to lead the next phase of the prediction market ecosystem.
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