Hyperliquid launched HIP-4 on May 2, 2026, introducing permissionless binary outcome markets that could challenge Polymarket and Kalshi in event trading.

Hyperliquid announced permissionless deployment for HIP-4 markets in an upcoming upgrade. Hyperliquid reaching $100 by December 31, 2026 at 29% YES.

HIP-4 deployers must stake 500,000 HYPE tokens and can take up to 50% fees on their validator-aligned markets.