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Hyperliquid launches Bitcoin outcome markets, eyeing Polymarket and Kalshi

Hyperliquid processed about $6 billion in daily derivatives volume before the weekend launch, and its first Bitcoin outcome market reportedly did roughly three times the volume of Polymarket and Kalshi combined.

Reported · Written up by our desk · Market Structure

Hyperliquid launched its first outcome contracts over the weekend, targeting the prediction market turf of Polymarket and Kalshi, according to DL News. The DeFi exchange also framed the move as a step toward building a broader financial stack on its platform.

DL News reported that Hyperliquid is processing about $6 billion in daily derivatives volume, citing the project’s position in derivatives and early adoption for the new contracts. Hyperion DeFi CEO Hyunsu Jung said Hyperliquid’s first Bitcoin outcome market handled roughly three times the volume of equivalent markets on Polymarket and Kalshi combined.

Hyperion DeFi is a US publicly traded company that accumulates Hyperliquid’s HYPE token, the article said. DL News also noted that Bernstein analysts have extended digital assets research coverage to include prediction markets, alongside tokenisation and stablecoins.

The outlet said Bernstein’s memo suggests prediction markets may be gaining traction as institutional hedging tools, and that the timing of Hyperliquid’s launch matters as Wall Street increasingly monitors the sector.

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