Hyperliquid has launched Outcome Trading testnet, introducing fully funded contracts for prediction markets and event-based trading. Summary Hyperliquid launched Outcome Trading under HIP-4. Contracts are fully collateralized with no leverage. Mainnet launch may follow after testing. Hyperliquid announced on Feb. 2 that it has launched “Outcome Trading” on its testnet under Hyperliquid Improvement Proposal 4. The new feature allows users to trade fully collateralized outcome contracts that settle within a fixed price range. What is Outcome Trading and how it works Prediction markets and actual events, such as elections, sports, or economic data, are the main focus of these contracts. They are solely dependent on the outcome of the event and do not require leverage, unlike conventional crypto derivatives. Traders must fund their positions in full, which removes the risk of forced liquidations. This structure is meant to provide a more stable and transparent way to trade uncertain events. HyperCore will support outcome trading (HIP-4). Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive that are useful for applications such as prediction markets and bounded options-like instruments. There has been…— Hyperliquid (@HyperliquidX) February 2, 2026 Hyperliquid (HYPE) said the system introduces non-linear payouts and time-based settlement, giving traders more ways to express market views. It also responds to strong demand from users looking for lower-risk alternatives to perpetual futures. Outcome Trading is built to work alongside existing tools such as portfolio margin and HyperEVM. This allows developers to combine outcome contracts with other decentralized applications on the platform. At this stage, the feature is only available on testnet and remains under active development. Hyperliquid plans to launch curated “canonical” markets once testing is complete. These markets will be settled in USDH, the platform’s stablecoin, and will rely on objective data sources to reduce disputes. If user feedback is positive, the company may later allow permissionless market creation, enabling anyone to launch outcome-based contracts. Why this matters for Hyperliquid and the market The launch comes as Hyperliquid keeps pushing beyond its roots in perpetual futures. Earlier updates, including HIP-3, opened the door to permissionless markets for tokenized stocks, commodities, and other real-world assets. Those changes have driven trading volumes and open interest to new highs, with several ecosystem projects reporting solid growth after the upgrades. With the introduction of outcome trading, Hyperliquid is now entering the quickly expanding prediction market, which is already dominated by companies like Polymarket and Kalshi. The feature might be released on the mainnet later in 2026 if it becomes popular on the testnet. A smooth rollout would further cement Hyperliquid’s evolution into a multi-product, on-chain derivatives platform.
