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 unprecedented 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 highlight 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.
Traders utilizing Hyperliquid's aligned quote tokens can expect more favorable 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 alongside perpetuals and spot positions from a single account, posing a direct challenge to platforms like Polymarket.
Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has already accounted for over 35% of the platform's total trading volume since its launch in October 2025. Currently, outcome tokens are only available on the testnet, with no official mainnet launch date confirmed.