Hyperliquid launches binary prediction markets, targets Polymarket
Hyperliquid has launched binary prediction markets on its mainnet through the HIP-4 upgrade, introducing Outcome Markets as a fully collateralized contract product. The new offering features binary event contracts that settle at 0 or 1, with daily Bitcoin settlement — a first for the platform. The crypto derivatives exchange is positioning the product to compete directly with Polymarket, the leading crypto-native prediction market platform, and regulated operator Kalshi. Specific markets, trading mechanisms, and launch partners were not disclosed at launch. The move marks Hyperliquid's expansion beyond perpetual trading into event-contract trading.
Polymarket now faces its first direct DeFi-native challenger with comparable collateralization and settlement infrastructure, threatening its dominance among crypto-native prediction market users ahead of any potential U.S. regulatory clarity.