ChainCatcher report: The decentralized exchange Hyperliquid has officially launched its HIP-4 event contracts. On its first day of trading, the product achieved a notional volume of 6.05 million contracts, accounting for approximately 0.7% of the day’s total prediction market volume. In comparison, leading prediction market platforms still significantly outpaced Hyperliquid: Kalshi recorded about 546 million contracts, Polymarket around 190 million, Limitless approximately 68.26 million, Crypto.com roughly 28.2 million, Opinion about 25.72 million, and Predict.fun around 11.8 million. The data shows that although Hyperliquid’s initial entry into the event contracts market is modest in scale, it has successfully generated initial trading activity, marking its formal entry into the prediction market landscape. In the short term, leading platforms retain a clear liquidity advantage; future growth will depend on product design and user migration capabilities.
Hyperliquid HIP-4 Event Contracts See 6.05 Million Contracts Traded on Launch Day
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Summary
Hyperliquid launched HIP-4 event contracts, a new on-chain news highlight in the prediction market. The product saw 6.05 million contracts traded on its first day, accounting for 0.7% of total volume. Major platforms such as Kalshi (546M), Polymarket (190M), and Limitless (68.26M) still lead the market. Hyperliquid’s token launch signals its entry into the space, though it faces intense competition. Initial liquidity remains low, and future success will depend on product enhancements and user adoption.
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