Hyperliquid launches prediction markets for real-world events

Decentralized exchange (DEX) Hyperliquid launched canonical prediction markets for offchain events, as the platform starts expanding beyond perpetual futures.

Validators run automated newsfeed software that publishes the markets and vote on deployment and settlement, Hyperliquid said in a Monday Telegram post.

The markets are built on Hyperliquid’s HIP-4 and use Circle’s USDC (USDC) as the quote asset. Hyperliquid said the first markets will open based on the May Consumer Price Index (CPI) year-over-year change and the June federal funds rate decision.

The launch puts prediction markets inside Hyperliquid’s existing trading stack, allowing users to trade event outcomes alongside spot and perpetual futures rather than moving collateral to a separate platform.

The rollout adds weight to a thesis advanced by Delphi Digital that Hyperliquid is evolving from a perp DEX into a broader onchain financial venue.

“What’s different now is that the stack is finally mature enough for true crypto superapps (aggregated giants) to exist without being limited to the wallet form factor,” Delphi said in a December research report.

The HYPE token’s price soared by 20% when Hyperliquid first announced plans to launch prediction market functionalities, Cointelegraph reported in February.

Hyperliquid announces the launch of canonical prediction markets. Source: Hyperliquid Telegram Channel

Is Hyperliquid crypto’s next “super-app”?

Hyperliquid’s expanding functionalities are making it the crypto industry’s next “super-app,” according to Matt Hougan, chief investment officer at crypto asset manager Bitwise. He wrote in a May 19 report:

“Hyperliquid has become the ‘super-app’  Atkins envisioned—a ‘non-SEC regulated platform’ offering investors exposure to “a variety of asset classes.” 

Hougan added that the Hyperliquid (HYPE) token is “one of the most mispriced assets in crypto today,” despite outperforming the wider crypto market since the start of 2026. He argued that investors are mispricing it, valuing it only as a perp DEX rather than a financial “super-app.”

HYPE & Total Crypto Market Capitalization, year-to-date chart for 2026. Source: Cointelegraph/TradingView

Since the beginning of the year, the HYPE rose more than 134% while the total crypto market capitalization fell by around 14%, TradingView data shows.

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Hyperliquid is currently the fifth-largest protocol by weekly fees and generated over $11 million in fees during the past week, according to DefiLlama data.

In the month leading up to May 10, Hyperliquid generated $50.95 million in revenue, all of which went directly to token holders with zero spent on incentives.

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