Hyperliquid has launched its HIP-4 prediction-market framework, giving outside deployers a path to create outcome markets backed by staked HYPE and pushing the exchange deeper into event-driven trading beyond standard crypto derivatives. Curated providers are leading the initial phase, while a future update is expected to broaden permissionless creation as liquidity and resolution quality are tested. Earlier reports described HIP-4 opening for permissionless deployment on August 29, with OutcomeXYZ the first to unlock staking and launch more than 20 markets across crypto, stock indices, commodities and sports, generating over $1 million in volume within two days and fees reported far below Polymarket's on comparable high-frequency markets. Hyperliquid News said on August 31, 2026 that HIP-4 markets from Skew were live with seven pairs listed. Third-party prediction pairs require a 500,000 HYPE bond, making creation a meaningful capital commitment; TradeXYZ, already the leading HIP-3 deployer, staked and delegated enough HYPE that deployment could begin from September 5, while Skew is expected to receive HyperionDeFi support to meet the threshold. Hyperliquid already hosts more than 300 outcome pairs and had cumulative outcome volume above $300 million before the rollout. HYPE traded above $81 near all-time highs as activity accelerated, daily fees climbed above $3 million in August, and the platform has distributed more than $105 million to over 1,500 builder teams. HIP-4 design includes custom oracles with linear interpolation pricing before expiration and USDC settlement without leverage or funding rates, while unified margin lets traders hold prediction positions alongside perpetuals and spot. Whether HIP-4 sustains liquidity and fair resolutions will shape how effectively Hyperliquid challenges established venues such as Polymarket and Kalshi.