Polymarket has officially launched perpetual contracts @Poly_Perps, with leverage up to 20x. Saying Polymarket is directly competing with Hyperliquid feels a bit forced—I’d rather see this as Polymarket’s natural strategic expansion after the World Cup to retain users. There’s a natural overlap between prediction market users and perpetual contract users. Both groups pay attention to macro events, policy changes, trending assets, and market expectations, and they want to express their judgments further. Left hand for event predictions, right hand for market judgments, and when necessary, Perps can be used for position management or hedging. By putting both products on the same platform, users don’t need to constantly switch between exchanges, wallets, and interfaces to make different market judgments. When the market turns bullish, all trading platforms are essentially doing one thing: Competing—or you could even say “fighting”—for the limited trading attention in the market. Users’ time, capital, risk tolerance, and information processing capacity are all finite. Emotions turn into judgments, judgments turn into trades, and every platform wants this entire process to happen within their product. That’s why we’re seeing that solid tech is now just the basic entry requirement. The real competition is about clear and comprehensive information access, a wide range of asset types, foolproof trading processes, and smoother deposit/withdrawal experiences. Many times, users don’t even feel the presence of the “chain” concept anymore. On-chain infrastructure is still important, but it’s increasingly moving to the background. What truly retains users is whether the platform can help them quickly find markets, form judgments, and complete subsequent actions. FOMO’s recent hype follows a similar product logic: bringing information, emotions, and trading closer together, shortening the distance between “spotting an opportunity” and “taking action” as much as possible. Rather than saying Polymarket is copying Hyperliquid, it’s more accurate to say it’s trying to establish a different product pathway: First, get users to focus on events. Then, help them form judgments. Finally, let them express those judgments within the same product ecosystem. Of course, a smoother platform experience doesn’t mean trading risks are reduced. Leverage amplifies both profits and losses, and in extreme cases, you could lose all your funds. Make sure to understand the applicable rules and risks in advance, and trade cautiously.