Simply put
- Karshi’s event contracts are now tokenized on Solana.
- The company has initiated a $2 million grant initiative for construction firms to foster market distribution through innovative applications.
- Kalsi recently secured $1 billion in funding, resulting in a valuation increase to $11 billion, largely attributed to growth in the prediction market sector.
Leading prediction market firm Kalsi announced on Monday that it now provides on-chain event contracts, enabling users to make predictions on the Solana blockchain.
This development allows Kalsi to leverage the finances available within the crypto economy, integrating both on-chain and off-chain liquidity into a significant pool.
“The ultimate advantage for any exchange is liquidity,” noted John Wang, Head of Cryptocurrency at Kalsi.
“Kalshi is the only prediction market globally that combines on-chain and off-chain, both US and international into one vast liquidity reservoir. Tokenization is the final step and it’s non-custodial, instant, and crypto-native.”
Kalsi has been actively enhancing its event contracts with Solana DEX aggregator Jupiter for about a month and is utilizing Jupiter along with Solana’s DFlow trading infrastructure to manage its global liquidity.
The company is also seeking additional partners to help expand its event marketplace through the Kalsi Builders Program, which will distribute $2 million in grants to organizations that integrate an on-chain prediction market into their front ends or develop their own event contracts.
“We’re interested in a variety of projects such as trading bots, analytical dashboards, educational resources, market-making tools, data visualization, mobile applications, browser extensions, and other innovative uses that capitalize on Kalsi’s prediction markets,” states the builder’s program FAQ.
Participants will receive a builder code that enables them to track their trading volume on the platform, allowing them to earn a share of the commission based on the volumes that their projects bring to the Kalsi marketplace.
Announcing Kalshi Builder Code: Anyone can now monetize applications on the global liquidity pool without permission. Whether it’s a trading terminal, a weather site, or an AI agent, you can now earn appropriate commissions and rewards.
Builders can also expect enhanced marketing and social media support, along with technical assistance from Kalshi’s engineering team.
“Kalsi already boasts the best product in the industry. Our next phase is to evolve our US-centric app into a global platform,” Wang mentioned. “This shift is only feasible through crypto infrastructure. Builders will inspire heavy users and broaden their engagement with new markets such as weather predictions, economic trading, and mention sniping.”
Kalsi has been catering to cryptocurrency users since before the 2024 elections and reportedly garnered over $20 million in USDC within a month after opening deposits last October. The company’s valuation recently swelled to $11 billion following the $1 billion funding round.
In contrasting news, Polymarket, a significant on-chain rival, received approval from the CFTC last week, granting US users access to its platform again. However, Kalsi faced difficulties in court recently when a judge ruled it came under Nevada gaming regulations.
