Hyperliquid’s prediction market platform, HIP-4, has reached an all-time high in open interest, hitting approximately $24.77 million. The surge is driven almost entirely by traders betting on the winner of the 2026 FIFA World Cup.
As of June 11, 2026, weekly trading volume on HIP-4 hit $16.32 million. Roughly 60% of that, about $9.63 million, came from World Cup prediction markets alone. This represents a 20% week-over-week increase.
Sports-related markets now account for approximately 99% of all live open interest on the HIP-4 platform. Total HIP-4 open interest has since grown to around $51 million, with sports contributing $49.52 million. The market for picking the World Cup champion is the dominant contract.
France, Argentina, and Spain are attracting the heaviest betting action. All positions are fully collateralized and settled in stablecoins within the Hyperliquid ecosystem.
The HIP-4 upgrade introduced fully collateralized binary outcome markets, where contracts resolve to either zero or one. It launched on Hyperliquid’s mainnet in May 2026, starting with recurring BTC price predictions before expanding to the World Cup champion market.
A key structural advantage for HIP-4 over competitors like Polymarket is its fee model: it charges zero fees to open positions. Fees only apply when a position is closed or settled.