Morning Minute: Hyperliquid Opens Prediction Markets to Anyone in HIP-4 Upgrade
Hyperliquid is making prediction markets permissionless through an upcoming HIP-4 enhancement. After launching “outcome trading” in May, the platform will let anyone deploy a market, starting on testnet and then mainnet. Today, validators control market creation, but the goal is to have fewer than 10 validator-run markets per year. Launching a market requires staking 500,000 HYPE, about $30M, which can be slashed if the market is poorly defined or settled incorrectly. The deployer can earn up to 50% of trading fees, mirroring Hyperliquid’s permissionless perp model: stake capital, earn for quality, lose for mistakes. This contrasts with Polymarket and Kalshi, where markets are centrally selected. The move comes as prediction markets hit record volume, though Hyperliquid remains far behind Kalshi in market share.
