Hyperliquid Enables Permissionless HIP-4 Deployment, Requires 500K HYPE Stake on July 19

According to Hyperliquid's July 19 announcement, the exchange will enable permissionless deployment of HIP-4 outcome markets on testnet, requiring deployers to stake 500,000 HYPE locked for six months. Validators will vote on market templates and can slash stakes if markets remain unsettled beyond one week. Deployers can set up to 50% fee share on launched markets.

Hyperliquid enters a crowded prediction market space: Kalshi and Polymarket recorded combined monthly trading volume of $44.8 billion in June 2026, with Kalshi leading at $33 billion and Polymarket posting a record $10.7 billion. HIP-4 contracts share collateral with Hyperliquid's perpetuals markets, allowing traders to place event bets without separate deposits.