First Leveraged Prediction Market Hits Solana: What is Space?

Space is the first leveraged prediction market built on Solana. It lets users bet on real-world outcomes with up to 10x leverage, combining Polymarket's event-trading model with Hyperliquid's leveraged trading mechanics. The platform runs on Solana's high-speed, low-fee infrastructure and covers markets across crypto, politics, sports, tech, economy, and culture.

The concept is straightforward but fills a gap that prediction market users have complained about for years: capital inefficiency. On a standard prediction market, you need to lock up the full value of your position. Space changes that by allowing traders to borrow against their positions, enabling them to take larger trades with less upfront capital and exit whenever they want.

How Do Prediction Markets Work, and Why Does Leverage Matter?

Prediction markets let users buy "Yes" or "No" shares on the outcome of an event. Each share is worth $1 if correct and $0 if wrong. The price of a share reflects the crowd's estimated probability. A "Yes" share trading at $0.65 means the market thinks there's a 65% chance the event happens. Users can sell their shares at any time before the event resolves, profiting from price swings just like any other market.

Space adds leverage on top of this. With 10x leverage and $100, you control a $1,000 position. A 10% price move becomes a 100% gain, or a 100% loss if it goes against you. The platform uses a central limit order book (CLOB) to match trades, providing deeper liquidity and faster execution than automated market makers.

Being on Solana matters here. Leveraged positions need fast settlement and low transaction costs. Solana handles thousands of transactions per second with fees that are fractions of a cent, making it practical for the kind of frequent, high-volume trading that leveraged prediction markets demand.

The market categories are broad. Think "Will Bitcoin hit $150K by Q4?" or "Who wins the next U.S. election?" or "Will the Fed cut rates?" Space also covers sports, tech breakthroughs, cultural trends, and niche topics like UFO disclosures. If there's an outcome to bet on, Space wants a market for it.

What Makes Space Different From Polymarket?

Polymarket dominates prediction markets right now, but it doesn't offer leverage. You put up the full amount for every position, and your capital sits locked until resolution or until you find a buyer. Space tackles both problems.

The 10x leverage means traders need far less capital to take meaningful positions. The instant cash-out feature means you're not stuck waiting for an event to resolve. And unlike perpetual futures, Space says most positions won't face forced liquidations, making it more forgiving for users who aren't used to managing margin.

The platform also uses zero maker fees on its order book, which encourages liquidity providers to participate and keeps the book deep. For traders used to Hyperliquid's perps interface, the experience should feel familiar, just applied to event outcomes instead of token prices.

Who Built Space?

Space comes from the team behind UFO Gaming, a crypto project that hit a $1.5 billion market cap with $70 million in daily trading volume, 66,000 holders, and a 130,000-strong community over four years. The project is led by @ufogerceo, and the team's track record of building and scaling a top-100 project is a significant part of their pitch.

The project's X account (@intodotspace) has over 156,000 followers and has been featured in Galaxy Research reports covering the intersection of prediction markets, AI, and DeFi. On the support side, Space has soft backing from the Solana Foundation and a harder partnership with Kalshi, one of the largest regulated prediction market operators in the U.S.

How Did the Fundraise Go?

The numbers tell a clear story of demand. Space raised over $18.2 million in its public sale, oversubscribed by 729% against a $2.5 million target. The sale used a variable token distribution model where the price rose linearly with demand, starting at a $50 million FDV floor and clearing at $69 million. An earlier private round brought in $3 million, led by Morningstar Ventures and Arctic Digital, with an additional 1,360% oversubscribed community round on Echo.

The sale wasn't without controversy. Some participants were confused about refunds after demand exceeded $20 million, and the team described the $2.5 million figure as a "soft cap" rather than a hard cap. Critics accused the team of misleading contributors who expected oversubscribed funds to be returned differently. Space addressed this publicly, stating the soft cap was "the absolute minimum needed to ship safely" and that refunds were processed to designated wallets.

What Are the $SPACE Tokenomics?

The $SPACE token has a total supply of 1 billion. It serves as the platform's reward, staking, and governance token. The core mechanic is a buyback-and-burn flywheel: 50% of all platform revenue goes toward buying $SPACE on the open market and burning it, creating deflationary pressure as activity grows.

Rewards come in both $SPACE and $USDC through trading activity, liquidity provision, referrals, and community tasks. Season 1 is already live with a points-based leaderboard where users earn ranks and unlock perks. TGE unlock is 100% with no cliffs mentioned, though full allocation and vesting details haven't been publicly detailed.

Pre-TGE trading was available on Whales Market for users who wanted early exposure. On the safety side, Space documents several platform-level protections, including oracle security measures, circuit breakers, liquidation controls, pre-event freeze mechanics, and slippage protection. The team is also researching zkML and zkTLS for future integration. However, no independent third-party smart contract audit has been publicly confirmed pre-launch, which some observers have flagged as a concern.

What's the Timeline?

The Token Generation Event is scheduled for February 2026, alongside the full platform launch. This was pushed back from an initial January target. The platform is currently in beta, with access codes going out to thousands of applicants worldwide as of February 9, 2026. A beta reveal broadcast on January 26 showcased the UI and core mechanics.

Post-TGE, expect CEX listings and ramped-up rewards for active users. The roadmap targets $2 billion to $4 billion in trading volume by Year 3, which would generate $20 million to $40 million in annual revenue at the platform's 1% fee structure. Ongoing seasons, competitions, and trading battles are planned to keep engagement high.

Space is also teasing a "Secret Event" for its most engaged community members, plus achievement unlocks and social trading features designed to make prediction markets feel more like a competitive game than a passive bet.

The Bottom Line

Space is betting that prediction markets need the same leverage tools that made perpetual futures the most traded product in crypto. The platform has documented safety mechanisms in place, but the lack of an independent smart contract audit prior to launch should be factored into your risk assessment. If the team can execute, it could carve out a real niche on Solana. 

Website: into.space X: @intodotspace

Sources:

• Space Official Website — Platform overview, market categories, rewards system, and buyback-and-burn mechanics
• Space Docs — Official documentation including security mechanisms, platform architecture, and tokenomics
• Blocmates — In-depth overview of Space's leveraged prediction market model and roadmap
• Whales Market Blog — Detailed breakdown of Space's features, CLOB mechanics, and tokenomics
• Phemex News — Coverage of Space's $3M seed and strategic funding round
• Crypto.news — Public sale announcement and token distribution model details
• Blockchain.news — $18.2M raise and 729% oversubscription data via Lookonchain
• MEXC News — Coverage of public sale controversy and team response on soft cap vs. hard cap
• Tekedia — Analysis of Space's market positioning, Kalshi and Solana Foundation support
• The Block — Official press release on $SPACE public sale mechanics