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Two Solana and Polymarket-linked prediction markets shut down

Trepa and Fireplace both set Sept. 30 as the withdrawal deadline, as Kalshi and Polymarket together took 93.3% of the past 30 days volume across DefiLlama-tracked prediction venues.

Reported · Written up by our desk · Market Structure

Two crypto prediction market startups announced they were winding down within hours of each other on Monday, telling users they could withdraw funds by Sept. 30. The closures affect different parts of the prediction market stack, with one venue built directly on Solana and the other using a professional trading interface connected to Polymarket.

Trepa operated on Solana with a payout mechanism that paid users based on how close their numerical guess was to an outcome, running one live hour per day on bitcoin price in 60-second rounds. Fireplace, in contrast, built a professional trading terminal on top of Polymarket and charged routing fees, focusing on enabling trades within Polymarket’s environment.

The startup closures came after Kalshi and Polymarket absorbed nearly all trading activity, according to DefiLlama volume tracking shared in The Defiant’s account. Across 40 prediction market venues tracked, Kalshi and Polymarket accounted for 93.3% of volume over the prior 30 days, with Kalshi alone at 75.7%, while the third-largest venue listed was OPINION at 2.8%.

The Defiant reports that Kalshi has raised $2.685 billion and was last valued at $22 billion, and that Intercontinental Exchange has invested $1.6 billion into Polymarket across two tranches. Trepa raised $420,000 and launched on Solana mainnet on Dec. 8, 2025, and its last playable round is Aug. 12, according to the company post-mortem described by The Defiant.

Latest closeBitcoin $63,950.00 ▼1.4%|Solana $76.15 ▼0.1%

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