Hyperliquid Launches Pre‑IPO and Prediction Markets
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- Hyperliquid is expanding beyond crypto perpetual futures into pre‑IPO trading, prediction contracts and tokenized real‑world assets, challenging traditional exchanges such as CME and ICE‑backed Kalshi.
- HYPE token has surged 94% in the past three months as interest in new HYPE exchange‑traded funds grows.
- HIP‑3 markets let users trade equities, commodities, forex and pre‑IPO contracts 24/7, and traders have used them to bet on Cerebras, Anthropic and SpaceX before their public listings.
- HIP‑4 outcome markets function like binary prediction contracts on political, economic and crypto events, allowing hedging of positions such as NVDA perps with earnings outcomes.
- 21Shares launched spot HYPE ETFs, and Hyperliquid secured a USDC partnership with Coinbase and Circle, enabling tokenized asset trading.
Why it matters: Wall Street exchanges like CME and ICE risk losing pre‑IPO and prediction market share to Hyperliquid, whose 94% HYPE surge and new ETFs divert billions of dollars into crypto‑centric platforms.
