Kalshi Launches Tokenized Prediction Contracts on Solana, Hits $11B Valuation

Source: DefiPlanet Original Title: Kalshi Launches Tokenized Prediction Contracts on Solana, Hits $11B Valuation Original Link: https://defi-planet.com/2025/12/kalshi-launches-tokenized-prediction-contracts-on-solana-hits-11b-valuation/

Quick Breakdown

• Kalshi begins offering tokenized versions of its event contracts on the Solana blockchain.
• The move targets crypto-native users and could intensify competition with other prediction platforms.
• A fresh $1B funding round boosts Kalshi’s valuation to about $11B.

Kalshi brings event contracts to Solana

Prediction platform Kalshi has taken a significant step toward embracing the crypto ecosystem by launching tokenized versions of its event-based contracts on the Solana blockchain.

Tokenized predictions powered by Kalshi are now live on Solana, with $2M+ in builder grants available, and more chains coming soon.

The integration allows users to buy, sell, and trade blockchain-based representations of Kalshi’s prediction markets, ranging from US election outcomes to sports results. By moving these contracts on-chain, Kalshi aims to give users the anonymity and liquidity often associated with DeFi platforms.

“There’s a lot of power users in crypto,” said John Wang, Kalshi’s head of crypto, highlighting that the platform hopes to tap into the sector’s deep liquidity while enabling developers to build independent front ends powered by Kalshi’s markets.

DeFi protocols Jupiter and DFlow will serve as bridges, connecting Kalshi’s off-chain orderbook to Solana’s on-chain liquidity layer.

Competitive pressure in prediction markets

With contract trading now available on Solana, Kalshi could intensify competition with existing blockchain-native prediction platforms, which have built strong traction through political markets.

Kalshi’s activity surged throughout 2024 after a federal court cleared the company to list political event contracts, a ruling the CFTC ultimately chose not to challenge in May.

Valuation climbs to $11 billion after new funding

The platform’s crypto push comes shortly after a massive funding round in November led by Sequoia Capital and CapitalG, which injected $1 billion into Kalshi. The investment lifted the firm’s valuation to around $11 billion, putting it in a stronger competitive position within the prediction markets sector.

Other major players are eyeing the sector as well, with Robinhood expanding into prediction markets through an acquisition tied to FTX, while certain platforms are exploring similar opportunities. Some platforms appear to be preparing the launch of their own prediction markets platforms backed by Kalshi infrastructure.