Permissionless prediction markets will first launch on testnet and then on mainnet, according to Hyperliquid.
By Jamie Crawley|Edited by Sheldon Reback Jul 20, 2026, 10:04 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Hyperliquid founder Jeff Yan. (Modified by CoinDesk)SummaryShow- Hyperliquid announced that its upcoming HIP-4 upgrade will facilitate the permissionless launch of prediction markets.
- Currently, these markets are managed by validators.
- This new feature will enable anyone to create a prediction market on the platform, provided it follows the templates that validators have approved.
Hyperliquid revealed that its HIP-4 upgrade, which has recently integrated "outcome trading" into the decentralized exchange, will allow for the permissionless launch of prediction markets in a future update.
Once this feature is operational, any user will have the ability to create a prediction market on the platform, contingent on templates sanctioned by validators, as stated by Hyperliquid in a Telegram announcement on Sunday. Until then, these markets remain under validator control.
Prediction markets, which are primarily led by Polymarket and Kalshi, enable users to wager on the outcomes of various events and have become a multi-billion dollar segment within the blockchain industry. Participants can place bets on a range of events, from decisions made by central banks regarding interest rates to performers at the Super Bowl halftime show.
The increasing interest in prediction markets was evident during the recent FIFA World Cup, which saw over $50 billion in bets as Spain secured its third championship title during the tournament. This surge in popularity has drawn centralized trading platforms like Coinbase and Robinhood to enter the market, offering customers a comprehensive service for prediction markets alongside traditional financial trading options.
The HIP-4 upgrade was implemented on the mainnet in May. Although the newly introduced permissionless prediction markets will coexist with the existing validator-controlled ones, the latter are expected to be less common, with Hyperliquid suggesting that ideally, fewer than 10 would occur annually.
Initially, permissionless prediction markets will be available on testnet before moving to the mainnet, as confirmed by Hyperliquid.
To deploy a prediction market, users will need to stake 500,000 HYPE tokens, which could be forfeited if a validator determines that the market is poorly defined or incorrectly resolved. Deployers stand to earn up to 50% of the revenue generated from trading fees, according to Hyperliquid.
Following the announcement, Hyperliquid's native HYPE token increased by 1%, rising from an intraday low of $59.88 to just above $60.50, and was recently trading at $60.79.
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Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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