BULLISH 📈 : Hyperliquid tests HIP-4 prediction markets to directly challenge Polymarket, Kalshi
Hyperliquid tests HIP-4 for on-chain prediction markets. Bloomberg says it’s a direct play against Polymarket and Kalshi.
Bloomberg reports HIP-4 is in public testing. The upgrade would add event contracts alongside Hyperliquid’s core perpetuals.
What changes in product mechanics
- Contracts mirror a binary event. Two tokens represent outcomes. The winning side settles at a fixed value once resolved source.
- No leverage involved. This cuts liquidation risk common in perp trading source.
Why this could matter for flow
- Native distribution. Hyperliquid can surface these markets to existing users active across crypto and commodities source.
- Single account, shared margin. Event bets and other exposures sit in the same system, enabling portfolio margin and cross-market “alpha,” said Sunny Shi of Syncracy Capital source.
What’s still unclear
- How Hyperliquid selects eligible real-world events.
- What governance approves new markets.
- When HIP-4 exits testing for full launch source.
HYPE token watch
- HYPE is ~11% below $40 over 14 days, up ~110% YTD, and ~33% under its $59 ATH CoinGecko.
- Analyst Ali Martinez flags a break from a rising wedge, eyeing $31, about 20% under ~$39 spot source.
