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Hyperliquid launches Bitcoin outcome contracts, moves into prediction markets

Hyperliquid’s first Bitcoin outcome market handled about three times the volume of comparable markets on Kalshi and Polymarket combined, signaling growing competition in prediction trading.

Reported · Written up by our desk · Market Structure

Hyperliquid has moved into prediction markets with the launch of its first Bitcoin outcome contracts, aiming directly at platforms including Kalshi and Polymarket, DL News reports.

According to Hyperion DeFi CEO Hyunsu Jung, the exchange processed about three times the volume of equivalent Bitcoin outcome markets on Polymarket and Kalshi combined during the initial rollout. The piece also says Hyperliquid processes roughly $6 billion in daily derivatives volume.

The launch places Hyperliquid in a more direct competitive lane for binary-style contracts, DL News adds, while Bernstein analysts Gautam Chhugani and colleagues note that the timing may be meaningful as Wall Street increases focus on digital assets, including prediction markets.

Bernstein frames prediction contracts as potentially useful to macro-focused funds, arguing they offer a cleaner way to hedge, as the trend is tracked alongside tokenisation and stablecoins, according to the memo shared with DL News.

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