Hyperliquid has launched its first prediction market on mainnet through the HIP-4 upgrade, introducing outcome-based contracts with fixed payouts. This new feature eliminates leverage and liquidation risk, marking a significant shift from perpetual trading. The initial market tracks Bitcoin's price direction, allowing traders to manage both directional exposure and event-based bets within one system. The rollout, which went live on Saturday, showed moderate early activity with about $59,500 in daily volume and $84,600 in open interest. Hyperliquid plans a phased expansion, starting with curated markets and eventually moving to permissionless listings. This positions Hyperliquid in competition with established platforms like Polymarket and Kalshi, both of which are exploring similar features.