Hyperliquid Opens Infrastructure to Prediction Markets

The move allows third-party builders to deploy prediction markets directly on Hyperliquid’s infrastructure, signaling a strategic push to turn the protocol into a broader onchain trading venue rather than a single-product exchange.

HIP-4 Opens the Door to Outcome Trading

The HIP-4 upgrade is designed to support outcome-based markets, enabling users to trade on the probability of real-world events directly on Hyperliquid’s high-performance infrastructure. By opening the system to external builders, Hyperliquid is effectively creating a framework where prediction markets can be launched permissionlessly, while still benefiting from the protocol’s deep liquidity and low-latency execution.

This marks a notable evolution for Hyperliquid, which has built its reputation primarily around onchain perpetual futures. Outcome trading introduces a new product vertical that could attract a different class of users, including those focused on macro events, politics, or crypto-native governance outcomes.

Market Reaction and Token Performance

The market responded decisively to the announcement. HYPE surged into the mid-$30s, trading around $36.79, with gains approaching +18% on the day. Hyperliquid’s market capitalization climbed to roughly $11.1 billion, while 24-hour trading volume exceeded $1 billion, reflecting strong speculative interest following the upgrade news.

The price action suggests traders are pricing in the potential for higher protocol usage and fee generation if prediction markets gain traction on Hyperliquid.

Why This Matters

Prediction markets are increasingly viewed as one of the most compelling use cases for onchain finance. By integrating outcome trading directly into its ecosystem, Hyperliquid is positioning itself at the intersection of derivatives, information markets, and decentralized infrastructure.

If successful, HIP-4 could transform Hyperliquid from a derivatives-focused protocol into a multi-product onchain trading hub, expanding its relevance beyond crypto-native traders and into broader event-driven markets.

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