Kalshi has switched on tokenized versions of its event contracts on Solana, making its first explicit play to court the same crypto-native traders who have funneled billions of dollars into rival prediction platform Polymarket.

Instead of holding positions solely as traditional off-chain contracts on Kalshi’s regulated venue, users can now buy and sell tokenized representations of those wagers on Solana. The economic exposure is identical, but the wrapper is crypto-native: the bet becomes a transferable token on a public blockchain.

Solana Lands Kalshi’s First Fully Tokenized Event Markets

“The tokenized versions of the contracts work the same way as the regular ones found previously on Kalshi’s platform,” the company told CNBC. The key difference is market structure. By trading the t

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