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CFTC-regulated prediction market Kalshi has begun issuing tokenized versions of its event contracts on the Solana blockchain, marking the first time U.S.-approved wagers can be traded and held on-chain.
The rollout, announced on X on December 1, 2025, converts Kalshi’s off-chain positions into SPL-standard tokens through an integration with DFlow’s API. Jupiter Exchange provides liquidity and functions as a market maker, routing orders between Kalshi’s regulated order book and Solana-native venues. Users can now buy, sell, and transfer bets on outcomes ranging from Federal Reserve decisions to weather events directly on-chain.
BREAKING: All prediction markets on @Kalshi are now tokenized on Solana 🔥 pic.twitter.com/lskEzZAASz
— Solana (@solana) December 1, 2025
Kalshi is sweetening the deal for developers through its Builders Program, which is open to any team worldwide with a working prototype that touches Kalshi markets. Successful applicants receive non-dilutive grants ranging from $50,000 to $250,000, priority technical support, free API credits, and unique “builder codes” that embed revenue sharing directly into third-party apps. These codes let developers earn a cut of trading fees whenever users place bets through their tools, dashboards, or games, effectively turning every integration into a potential affiliate business.
The program has already committed nearly its entire $2 million fund and is actively reviewing new submissions, with decisions typically returned within two weeks. Additional chain integrations are planned, with Axiom Exchange confirmed as the next venue.
Kalshi has allocated $2 million in grants for developers and introduced “builder codes,” a revenue-share mechanism that lets third-party applications monetize access to its markets.
The move positions Kalshi to compete directly with offshore platforms such as Polymarket, which dominates the $28 billion prediction-market sector but until recently operated without U.S. regulatory approval.
Kalshi’s on-chain push comes with deep pockets. Earlier in November, the company closed a $1 billion funding round at an $11 billion valuation, more than doubling its $5 billion mark from six weeks earlier. Led by returning backers Sequoia Capital and Alphabet’s CapitalG, the raise gives Kalshi the firepower to fund its $2 million Solana developer program and take on Polymarket, which itself is reportedly seeking fresh capital at $12–15 billion after a $2 billion round last month. Klashi now runs more than 3,500 active contracts.
Solana was trading at $138.48 on December 2, up 1.73% over the past 24 hours.
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