Hyperliquid opened HIP-4 outcome-market deployment to outside venues on Aug. 29, and daily trading volume nearly tripled within three days, the Hyperliquid Research Collective reported Sept. 3. Volume rose from an August average of about $545,000 to $1.97 million on Aug. 31 and later reached roughly $2.75 million. Outside venues Outcome and Skew each posted 500,000 HYPE bonds for at least six months and launched markets from seven validator-approved templates, with Outcome taking about 85% of volume behind a $1 million rebate paying roughly one cent per dollar traded and Skew about 1%. HIP-4 offers fully collateralized contracts that typically settle at zero or one without leverage, funding, or liquidations, using validator prices published every three seconds in the same account environment as Hyperliquid perpetual markets so traders can hedge against a shared mark—an arrangement the collective said Kalshi and Polymarket cannot match identically. Protocol-level permissionless deployment does not authorize U.S. access; sports and certain event contracts may face Commodity Futures Trading Commission review under the Commodity Exchange Act. An earlier HyperliquidNews report put 24-hour HIP-4 volume at $3.26 million, with Outcome at 82.5%.