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Hyperliquid launches Bitcoin outcome contracts to challenge Polymarket and Kalshi
Hyperliquid’s first Bitcoin outcome market posted about three times the volume of equivalent Polymarket and Kalshi markets combined.
Hyperliquid has launched its first Bitcoin outcome contracts, positioning the DeFi exchange to compete directly with Polymarket and Kalshi, according to DL News. The announcement comes as the platform begins rolling out prediction market products that it says fit into a broader financial stack.
DL News reports that Hyperion DeFi CEO Hyunsu Jung said the first Bitcoin outcome market handled roughly three times the volume of comparable markets on Polymarket and Kalshi combined. Hyperliquid also highlighted the launch as a step toward building “binary markets” on its shared liquidity framework.
The article notes that Hyperliquid processes about $6 billion in daily derivatives volume and that its timing may matter for how Wall Street views the sector. Bernstein analysts Gautam Chhugani and colleagues extended digital assets research coverage to include prediction markets, alongside tokenisation and stablecoins, signaling institutional interest.
Bernstein frames prediction contracts as a way for macro-focused funds to hedge event risk more cleanly than existing tools, the outlet said. Hyperliquid is also described as being tied to Hyperion DeFi, a US publicly traded company that accumulates Hyperliquid’s HYPE token.
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