80% of Jupiter Predict’s All-Time High Volume Comes From Sports Trading

Sports trading is alive and well on Solana, with a surge of World Cup activity pushing weekly trading volume on Jupiter Predict to new all-time highs.

Jupiter’s internal data suggests that sports trading now accounts for ~80% of the platform’s total volume, with 60% coming directly from World Cup related markets.

Despite trailing market leaders Kalshi and Polymarket, Solana’s budding prediction market scene is home to a diverse range of creative and experimental apps reimagining onchain events contracts.

Sports Trading Pushes Jupiter Predict Volume to All-Time High

With the first week of World Cup action behind us, it’s safe to say that traders are flocking to prediction markets at unprecedented scale. Prediction markets across the industry have recorded new all-time highs in weekly volume, and Solana-based venues are no exception.

According to Blockworks data, Jupiter Predict just closed out its biggest week ever, witnessing over $2.9M in weekly trading volume, a new all-time high. 

Shared exclusively with SolanaFloor, Jupiter’s internal data suggests that around 80% of this volume has been generated through sports markets, with 60% of the total being transacted through World Cup events.

Jupiter Predict’s growing activity is an encouraging sign for Solana’s prediction market sector. While the wider market is currently dominated by Kalshi and Polymarket, one of Jupiter Predict’s providers, onchain data suggests that Solana-native DeFi users are eager to trade events contracts on home soil.

Users who placed their debut predictions on the protocol on June 11, the first day of the World Cup, appear to have become some of Jupiter Predict’s most engaged users. Returning users have trended significantly higher since June 11, suggesting traders continue coming back to place more predictions on future games.

In a bid to streamline access to events contracts, Jupiter has natively integrated its prediction markets directly into its wallet.

Kalshi Commands Dominant Lead in Sector

Outside Solana, prediction market leaders are also enjoying their best weeks ever, solidifying their case as the breakout crypto application of the past year. While Polymarket has historically dominated the sector, Kalshi has since eclipsed the incumbent in recent months. 

According to Artemis data, Kalshi now commands 64% of all prediction market share, recording $6.4B in weekly trading volume. Solana onchain figures are certainly insignificant in the face of the prediction market duopoly, but the disparity represents a sizable opportunity for the DeFi economy, which enables democratized access to these markets at global scale.

Solana Ecosystem Experiments with Prediction Markets

Despite Solana’s slow start in the prediction market race, the network’s DeFi economy is making up for its low volumes through the diversity of its app layer. Prediction Market-adjacent applications are cropping up all over the ecosystem, enabling creative new methods of trading events contracts.

Solana-based applications like Melee Markets, worm.wtf, and RideMarkets are reinventing how users interact with prediction markets. Where incumbents like Polymarket and Kalshi rely on tried-and-tested liquidity models, platforms like Melee Markets transform prediction markets into memecoin-esque assets. Worm.wtf brings leverage, and RideMarkets trades a collective narrative.

More recently, Jupiter Predict debuted Forecast, bringing prop AMM liquidity to prediction markets. Initially rolled out on short term crypto price markets, Forecast trading activity has been relatively low compared to Jupiter Predict’s main markets, though this is more likely due to the product’s infancy rather than any liquidity limitations.

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