Tidal disruption events (TDEs) are bursts of electromagnetic energy released when supermassive black holes at the center of galaxies violently disrupt stars that pass too close. TDEs provide a new window to study accretion onto supermassive black holes; in some cases, this accretion leads to launching of a relativistic jet, but the necessary conditions are not fully understood. Here, we report the optical discovery of AT2022cmc, a rapidly fading source located at redshift z=1.19325. Observations of a bright counterpart at other wavelengths, including X-rays, sub-millimeter, and radio, supports the interpretation of AT2022cmc as a jetted TDE containing a synchrotron ``afterglow.'' Using 4 years of Zwicky Transient Facility survey data, we calculated a rate of 0.02 ^{+ 0.04 }_{- 0.01 } Gpc^{-3} yr^{-1} for jetted TDEs based on the luminous, fast-fading red component, thus providing a measurement complementary to the rates derived from X--ray and radio observations (Brown et al., 2015), confirming that ~1% of TDEs have on-axis jets. Forthcoming observations of AT2022cmc could resolve the jet through high-resolution imaging, while optical surveys have the potential to unveil a population of cosmological flares of the AT2022cmc class.