Hyperliquid launches permissionless HIP‑4 prediction markets

Hyperliquid announced that its HIP‑4 outcome markets will support permissionless deployment in an upcoming Phase 2 upgrade. Builders can create markets without prior approval by staking the required amount of HYPE tokens—500,000 tokens according to one report and 1,000,000 tokens according to another. The upgrade will first be tested on a testnet before rolling out to mainnet, and the markets will settle on‑chain via Hyperliquid’s validator set, eliminating token‑vote mechanisms used by some competitors.

The permissionless phase follows the initial curated launch of HIP‑4 on May 2, 2026, which introduced collateralised binary contracts settling in USDH with zero opening‑position fees. Builders will be able to keep up to half of the trading fees generated by their markets while leveraging Hyperliquid’s existing liquidity and matching engine. The move is positioned as a step to increase market activity and to compete with platforms such as Polymarket and Kalshi.