In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, a crucial step towards the mainnet launch. The prediction market sector has witnessed remarkable growth, with trading volumes soaring over 300% in 2025 to reach $63.5 billion. Hyperliquid is strategically positioned 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. Traders utilizing Hyperliquid's aligned quote tokens can benefit from reduced taker fees and increased maker rebates.
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 expected to heat up competition with platforms like Polymarket, which has announced plans to introduce perpetual trading soon. Hyperliquid's previous upgrade, HIP-3, has already shown promising results, with permissionless perpetuals accounting for over 35% of the platform's trading volume since its introduction in October 2025. Currently, outcome tokens are available only on testnet, with no confirmed mainnet launch date.