The platform now hosts prediction markets similar to Polymarket or Kalshi.
The decentralized exchange (DEX) has activated the HIP-4 protocol on mainnet, launching full-scale event prediction markets. On the very first day of trading, the new product showed significant activity.
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The first available market was a bet on whether bitcoin’s (BTC) price would exceed $79,980 by May 5. According to researcher defioasis.eth, trading volume reached 6.05 million contracts in the first 24 hours.
For comparison, over the same period, Kalshi recorded 546 million contracts and Polymarket recorded 190 million. Hyperliquid’s new product has already captured approximately 0.7% of the daily volume of the entire prediction market.
How HIP-4 Works
To create their own prediction market, a user must stake 1 million HYPE▼$71.82. This differs fundamentally from Polymarket’s model, where launching a market requires platform team approval. All contracts are natively integrated into the HyperEVM Layer-1 network. Settlement occurs in USDH stablecoin, and trading takes place through a central order book.
Read more: Hyperliquid HYPE current price May 2026 and year forecast
Outlook and Expert Opinion
BitMEX co-founder Arthur Hayes previously predicted Hyperliquid would lead the segment precisely because of the HYPE token. In his view, users will not only trade but also directly participate in the platform’s economy through ownership of the native token.
In April 2026, total trading volume across all prediction platforms reached a record $29.8B, up from $26.5B in March. Kalshi remains the leader at $14.8B, followed by Polymarket at $9B.
The launch of HIP-4 allows Hyperliquid to compete not only through low fees and high performance but also through a unified ecosystem where users can hold multiple position types under shared collateral.
Read more: Hyperliquid Launches Android Mobile App as MVP on Google Play
