Hyperliquid Explores Prediction Markets, Proposes Zero Opening Fees to Challenge Polymarket

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

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

Prediction markets have grown rapidly in recent years, with total trading volume exceeding $63.5 billion in 2025. Hyperliquid's previously launched HIP-3 has driven its permissionless perpetual contract market to account for over 35% of the platform's trading volume. Currently, the event tokens are still in the testnet phase, and the mainnet launch date has not yet been announced. However, the industry generally believes this will become a crucial infrastructure for Hyperliquid to challenge the existing prediction market landscape. (CoinDesk)