Hyperliquid enters the prediction market! HIP-4 upgrade targets event contracts, challenging Polymarket with "0 opening fees"

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The prediction market sector is welcoming a heavyweight disruptor! Decentralized derivatives giant Hyperliquid is preparing to enter the event prediction space through the brand-new HIP-4 upgrade, going head-to-head with Polymarket. The newly announced fee structure for "Outcome tokens" features "zero fees for opening positions," allowing users to seamlessly trade perpetuals, spot, and real-world events within a single account. (Previous coverage: Prediction markets enter the era of "arms dealers": 5(c) Capital builds infrastructure to counter platform monopolies and regulatory risks) (Background: Prediction market ETFs could launch as early as next week; Roundhill has filed for 6 funds effective 5/5) As the decentralized Prediction Markets sector has seen explosive growth over the past year, with total trading volume soaring over 300% in 2025 to a staggering $63.5 billion, major DeFi giants have begun aggressively vying for a slice of this lucrative market. According to the latest official documentation, decentralized perpetual contract giant Hyperliquid is gearing up to launch a new prediction market trading mechanism, directly challenging the current sector leaders, Polymarket and Kalshi. The Killer Feature: Zero fees for opening positions, seamless switching in a single account Hyperliquid recently officially announced the upcoming fee structure for "Outcome tokens" in its developer documentation. These tokens are the core assets supporting event prediction trading on the platform, strongly signaling that the mainnet launch of these features is imminent. According to the publicly released details, Hyperliquid has unveiled a highly competitive killer feature: "zero fees for opening positions." This means users do not need to pay any entry fees when establishing positions in the prediction market; the platform will only charge fees upon closing positions or at event settlement. Furthermore, to further incentivize liquidity, traders using Hyperliquid's designated "aligned quote tokens" will enjoy more favorable rates: Taker fees will be reduced by 20%, and Maker rebates will be significantly increased by 50%. More importantly, through the upcoming HIP-4 upgrade, Hyperliquid brings an ultimate capital efficiency experience. In the future, users will be able to trade binary event contracts, existing Perpetuals, and spot positions all within the same account, completely eliminating the friction costs of cross-platform fund transfers. Tit-for-tat competition: The blurring lines between prediction markets and contracts Interestingly, this competition between top-tier DeFi projects is evolving into a "turf war." Just as Hyperliquid actively expands into prediction markets, Polymarket announced earlier this week that "perpetual trading is coming soon" to its own platform. Facing Polymarket's defensive counterattack, Hyperliquid has a strong track record to back it up. Looking back at October 2025, Hyperliquid launched the HIP-3 upgrade, which for the first time opened "permissionless perpetuals" to developers. This feature was a massive success, currently accounting for over 35% of the platform's total trading volume. Currently, Hyperliquid's Outcome tokens and prediction market features are only running on the Testnet, and an exact mainnet launch date has not yet been officially confirmed. However, it is foreseeable that with Hyperliquid's aggressive entry, the line between "contract exchanges" and "prediction markets" will become increasingly blurred, and the battle for liquidity between the two sides will enter a white-hot stage.

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