Hyperliquid just added a new trick to its already expansive playbook. HIP-4, which went live on mainnet around May 2, brings outcome markets to the platform, letting traders place bets on specific events through fully collateralized contracts that settle between 0 and 1.
Think of it as prediction markets, but wired directly into the same infrastructure where you already trade spot and perpetuals. No new accounts, no bridging funds elsewhere, no liquidation risk. All capital stays inside Hyperliquid’s ecosystem.
How HIP-4 actually works
The contracts introduced under HIP-4 are conceptually straightforward. Each one represents a binary or bounded outcome, settling within a fixed range of 0 to 1. If you think an event will happen, you buy closer to 1. If you think it won’t, you buy closer to 0.
The critical design choice here is full collateralization. Unlike perpetual futures where leverage can amplify losses and trigger liquidations, outcome contracts require traders to put up the full amount upfront. There’s no margin call lurking around the corner. Contracts settle in USDH, Hyperliquid’s native stablecoin.
