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Hyperliquid launches Bitcoin outcome markets, targeting rival prediction firms

Hyperliquid said its first Bitcoin outcome contract handled about three times the volume of comparable markets on Polymarket and Kalshi combined, as competition for prediction-market liquidity heats up.

Reported · Written up by our desk · Market Structure

Hyperliquid has entered the prediction-market arena, launching its first Bitcoin outcome contracts over the weekend and positioning the DeFi exchange directly against Polymarket and Kalshi, according to DL News. DL News reported that Hyperliquid is already processing around $6 billion in daily derivatives volume, and that the early results for the new contracts drew attention. Hyperion DeFi CEO Hyunsu Jung said Hyperliquid's first Bitcoin outcome market did roughly three times the volume of equivalent markets on Polymarket and Kalshi combined.

Jung attributed the performance to the exchange model, saying a shared liquidity layer helps convert users. He also described binary markets as a next step toward building what he sees as a broader financial stack on Hyperliquid.

DL News noted that Hyperion DeFi is a US publicly traded company that accumulates Hyperliquid's HYPE token. The move also comes as Bernstein has expanded its digital assets research coverage to include prediction markets alongside tokenisation and stablecoins, pointing to growing institutional interest in the category.

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