As the global prediction market size is expected to surpass $20 billion by 2026, the on-chain derivatives giant Hyperliquid officially enters the fray.

On May 2, the highly anticipated HIP-4 (Outcome Contracts) officially launched on the Hyperliquid mainnet. This signifies that Hyperliquid is not only a perpetual contract DEX with annual revenue exceeding $900 million, but has also evolved into a full-stack on-chain financial execution layer covering spot trading, perpetual contracts, and prediction markets.
1. HIP-4: Binary Event Contracts with No Liquidation Risk
HIP-4 introduces a fully collateralized binary prediction market. Its core mechanism is very intuitive:
- Operational Logic: Traders buy "Yes" or "No" at a price between 0 and 1. If the event occurs, the "Yes" token settles at $1; if it does not occur, it settles at $0.
- Controlled Risk: No leverage, no liquidation risk; maximum loss is determined at the point of entry.
- Full On-Chain Matching: Unlike Polymarket's off-chain matching, HIP-4 operates entirely on HyperCore’s Central Limit Order Book (CLOB), achieving sub-second confirmation.
On its first trading day, HIP-4 recorded a nominal trading volume of $6.2 million, with the first week's trading volume exceeding $26 million. Currently, the "BTC Price Binary Prediction" market deployed by top Builders is actively ongoing. According to the latest data, the contract for "Will BTC be above $80,657 on May 11 at 2:00 PM?" has already surpassed $3.5 million in transaction volume.
2. Dimensional Attack: Why Can HIP-4 Challenge Polymarket and Kalshi?
The market widely views HIP-4 as a key upgrade competing with Polymarket and Kalshi. Rather than competition, it could be seen as a dimensional attack based on underlying architecture.
1. Unified Account Fund Efficiency (Cross-Margin)
This is a core advantage that Polymarket and Kalshi cannot achieve. On Hyperliquid, spot (Spot), perpetual contracts (Perps), and prediction markets (Prediction) share the same margin account.
This means that traders can use the same USDH collateral to simultaneously engage in:
- Directional Trading (Long/Short BTC)
- Event Probability Hedging (Buying BTC price range predictions)
Funds do not have to be transferred back and forth between different platforms, greatly expanding the trading breadth (Tradable Surface) and capital utilization. HIP-4 perfectly complements the previous HIP-3 (permissionless deployment of perpetual contracts).
2. Zero Opening Costs
HIP-4 adopts an extremely aggressive fee strategy: zero opening fees, with only minimal fees charged upon closing or settlement. This directly undercuts Polymarket's winning position fees of up to 2% and Kalshi's tiered fee model, making it highly attractive to high-frequency traders and arbitrageurs.
3. Strict Quality Filtering Mechanism
To prevent the proliferation of low-quality markets, HIP-4 mandates that Builders must stake 1 million HYPE (which can be forfeited) to deploy prediction markets. This "Skin in the game" mechanism ensures high quality and liquidity depth of the markets.
3. AiCoin Exclusive Channel: Seize the Prediction Market Opportunity
The launch of HIP-4 means that Hyperliquid is breaking the boundaries between "trading" and "predictions." While others are still troubled by Polymarket's high transaction fees and dispersed funds, savvy traders have already completed multidimensional hedging within Hyperliquid’s unified account.
If you want to experience zero opening fees and full on-chain matching in the next generation of prediction markets, now is the best time.
By registering on Hyperliquid using the exclusive AiCoin invitation code AICOIN88, you can seamlessly access the HIP-4 prediction market and enjoy a permanent 4% rebate on transaction fees.
Don’t just be an observer of the market, use your judgment to price the future.
The actual operation is super simple:
Step 1:
Open the Hyperliquid BTC/USDC candlestick chart on AiCoin

Step 2: Find the toolbar and check "Instant Order"

Step 3: Directly click the green "Buy Long" or red "Sell Short" → Instant execution

Now, use the AiCoin exclusive invitation code AICOIN88 to register on Hyperliquid and enjoy a permanent 4% fee rebate.
https://app.hyperliquid.xyz/join/AICOIN88

📖 Beginner's Guide:
- "AiCoin PC Client Hyperliquid Authorized Trading Tutorial":
https://www.aicoin.com/zh-Hans/article/514197
- "Zero Basics Entry! Hyperliquid First Trading Super Detailed Illustrated Guide":
https://www.aicoin.com/zh-Hans/article/510225
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