Hyperliquid has launched its HIP-4 protocol on the HyperEVM mainnet, introducing prediction markets with initial trading activity.
Hyperliquid, a decentralized exchange, has launched its HIP-4 protocol on the HyperEVM mainnet, marking the introduction of prediction markets on the platform.
Users can currently place bets on whether Bitcoin's price will exceed $79,980 by May 5. On its first trading day, Hyperliquid reported a trading volume of 6.05 million contracts, which accounts for approximately 0.7% of the total daily prediction market volume. In contrast, leading platforms like Kalshi and Polymarket recorded 546 million and 190 million contracts, respectively.
The HIP-4 protocol enables users to create their own markets for event outcomes by staking 1 million HYPE tokens, diverging from Polymarket's model that requires platform approval. The contracts are integrated into the HyperEVM network, while Polymarket operates on a separate layer two solution.
Trading on Hyperliquid occurs within the same wallet and environment as other platform tools, with profit and loss being calculated in the stablecoin USDH, utilizing a central order book for transactions.
April Market Overview
In April, the overall trading volume across prediction markets reached $29.8 billion, up from $26.5 billion in March. Kalshi led the way with $14.8 billion in volume, reflecting a 13.3% month-over-month increase, while Polymarket followed with $9 billion, though it experienced a 14.8% decline. Notably, Polymarket's U.S. operations saw an 85% increase, reaching $1.3 billion after resuming at the end of 2025. Limitless and Predict reported even more substantial growth rates of 207% and 368%, respectively. Arthur Hayes, co-founder of BitMEX, has suggested that Hyperliquid's HYPE token could establish the platform as a leader in the prediction market space.
