Hyperliquid (HYPE), one of the fastest-growing decentralized exchanges in crypto, is moving into prediction markets with a proposal aimed at competing with Polymarket and Kalshi.
Bloomberg reported Wednesday that Hyperliquid is testing a new system upgrade called HIP-4, designed to let traders bet on real-world outcomes on a platform that has gained attention for how quickly and aggressively it has expanded.
Hyperliquid Tests HIP-4 Prediction Markets
HIP-4 is currently in public testing, and its focus would be prediction-style contracts rather than Hyperliquid’s traditional core product: perpetual futures.
Perpetuals are derivative contracts with no expiry that typically involve significant leverage, meaning they carry a higher risk profile, especially during volatile price moves that can trigger forced liquidations.
Prediction markets, by contrast, would be built on simpler contract mechanics. For example, if a market were created around whether US inflation in July would exceed 3.5%, the structure would generate two tokens—one representing
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