What Are Hyperliquid Outcome Markets?
Hyperliquid Outcome Markets are blockchain-native prediction contracts introduced through HIP-4, the Hyperliquid Improvement Proposal that expands the protocol beyond perpetual futures.
Each market represents the possible outcomes of a future event through tradable outcome tokens. The most common structure consists of Yes and No tokens, although the protocol is designed to support multiple outcomes in future releases.
Unlike perpetual contracts or options, Outcome Markets are fully collateralized. Participants pay the full value of their position when entering a trade, eliminating leverage, liquidations, and funding payments. When an event reaches its conclusion, winning outcome tokens automatically settle to a predefined value while losing outcomes become worthless.
Settlement is performed natively by the Hyperliquid validator network rather than through an external oracle provider, making Outcome Markets an integrated protocol primitive instead of an application built on top of another blockchain.
