《IOSG: Why Can't Hyperliquid's Prediction Market Catch Up to Polymarket?》 (Author: Mario Chow) Hyperliquid's HIP-4 leads Kalshi/Polymarket with features like same-account hedging, templated settlement, and same-cluster book design. Transactions are concentrated around events like the World Cup, and external venues have increased slightly after open deployment. Despite its superior design, the current prediction market remains small in scale, and fee revenue lacks sufficient economic appeal compared to staking yields. Its future value lies in providing a closed-loop entry point for perpetual traders, rather than being a standalone profitable prediction market business. https://www.(wublock123.com)/articles/article-59639