Hyperliquid Sets Outcome Token Fees as Prediction Market Race Heats Up

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Hyperliquid has published a fee model for outcome tokens on its testnet. The disclosure follows HyperCore’s backing of HIP-4. The proposal brings outcome trading to the venue and sets up a challenge to leading prediction market players, Kalshi and Polymarket. Hyperliquid Reveals Six Fee Scenarios for Outcome Token Trading According to the updated documentation, the framework, currently live on testnet, applies fees only when traders close or settle outcome positions, not when opening them. The outcome token fee logic covers six specific scenarios. Minting incurs no fees and does not contribute to trading volume. Normal trades may charge only the maker, or no one at all. Burning trades may incur fees on both sides or only on the taker. Settlement distributes payouts proportionally based on the settlement fraction. The overall design lowers entry costs for traders while still capturing revenue at exit. The fee disclosure positions Hyperliquid as a serious entrant in one of the fastest-expanding sectors. Monthly notional trading volume in prediction markets surged more than 520% to an all-time high of $27 billion in April. Kalshi and Polymarket account for the bulk of that activity. Follow us on X to get the latest news as it happens At the same time, competitive pressure is building. Coinbase entered the space by launching prediction markets for US users in partnership with Kalshi, while Polymarket has indicated plans to introduce perpetual trading products. Taken together, these developments signal that platforms are increasingly expanding their product suites and integrating diverse trading features to attract and retain users. Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

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