In a significant development, Hyperliquid has unveiled the fee structure for its outcome tokens, which facilitate prediction market-style trading on the platform, hinting at an imminent mainnet launch. The prediction market sector has witnessed explosive growth, with trading volumes skyrocketing over 300% in 2025 to $63.5 billion.
Hyperliquid is strategically positioning itself to compete with established players like Kalshi and Polymarket by building a robust infrastructure. A key aspect of the fee structure is that initiating a position is free, with fees only applicable when closing or settling a trade. The framework outlines six distinct scenarios, including minting, trading, burning, and settlement. Furthermore, traders utilizing Hyperliquid's aligned quote tokens are eligible for 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 Hyperliquid's existing perpetuals and spot positions, all within a single account. This move is seen as a direct challenge to platforms like Polymarket, which recently announced plans to introduce perpetual trading. Hyperliquid's previous upgrade, HIP-3, which opened up permissionless perpetuals to developers, has already gained significant traction, accounting for over 35% of the platform's total trading volume since its introduction in October 2025.
Currently, outcome tokens are only available on the testnet, with no confirmed mainnet launch date.