In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, paving the way for a potential mainnet launch. The prediction market sector has witnessed explosive growth, with trading volumes skyrocketing over 300% in 2025 to reach $63.5 billion. Hyperliquid is strategically positioning itself to compete with established players like Kalshi and Polymarket by building a robust infrastructure.
A key highlight of the fee structure is that opening a position is free, with fees only applicable when closing or settling a trade. The structure outlines six scenarios, including minting, trading, burning, and settlement.
Furthermore, traders utilizing Hyperliquid's aligned quote tokens can benefit from preferential rates, with taker fees reduced by 20% and maker rebates increased by 50% compared to standard rates. The full fee formula has been made available for developers. The introduction of outcome tokens, as part of the HIP-4 upgrade, will enable users to trade binary contracts on real-world events, in addition to perpetuals and spot positions, all within a single account.
This move is seen as a direct challenge to platforms like Polymarket, which has announced plans to introduce perpetual trading soon. Hyperliquid's previous upgrade, HIP-3, has already shown significant traction, with permissionless perpetuals accounting for over 35% of the platform's trading volume since its introduction in October 2025. Currently, outcome tokens are only available on the testnet, with no confirmed mainnet launch date.