Overview
- Hyperliquid activated HIP 4 on May 2 to add native outcome contracts that are fully collateralized, dated markets with no leverage or liquidation risk.
- On May 25 the platform listed a May 2026 year‑over‑year CPI outcome market that will settle to the Bureau of Labor Statistics print on June 10, 2026.
- Early trading in the CPI market is modest with roughly $3,000 in traded volume, about $5,000 in open interest, and implied probabilities clustered near 34–43 percent across key brackets.
- HIP 4 outcome contracts run on HyperCore and share a unified margin account with perps so a single USDH or bridged USDC collateral pool can back both event bets and perpetual positions, boosting capital efficiency.
- If liquidity, oracle reliability, dispute resolution and user interface improve, Hyperliquid could pull macro prediction flow on‑chain and compete with off‑chain venues such as Polymarket, but current uptake remains small.