Hyperliquid Eyes Prediction Markets, Plans to Explore Zero Opening Fees to Challenge Polymarket

Odaily Odaily reports that Hyperliquid is accelerating its entry into the prediction market arena, planning to compete with platforms like Polymarket and Kalshi through a newly launched "outcome tokens" mechanism.

According to the recently disclosed fee structure, Hyperliquid adopts a model of "zero fees for opening positions, fees charged for closing or settling" for event trading, covering various scenarios including minting, trading, burning, and settlement. The platform also offers lower transaction costs for "aligned quote tokens," including mechanisms for market-making rebate increases and fee discounts. This functionality will be introduced via the HIP-4 upgrade, allowing users to trade binary contracts based on real-world events within the same account, and will integrate with the existing spot and perpetual contract systems to create a unified trading environment.

Prediction markets have grown rapidly in recent years, with the overall trading volume exceeding $63.5 billion in 2025. Hyperliquid's previously launched HIP-3 has already driven its permissionless perpetual contract market to account for over 35% of the platform's trading volume. Currently, event tokens are still in the testnet phase, with the mainnet launch date yet to be announced, but the industry widely views this as a crucial piece of infrastructure for Hyperliquid to challenge the existing prediction market landscape. (CoinDesk)