HIP-4 open interest hits all-time high of $25M as World Cup fever grips Hyperliquid

Total Open Interest

$25M

All-time high open interest on HIP-4 driven by sports prediction markets.

Weekly Trading Volume

$16.32M

Total trading volume on HIP-4 as of June 11, 2026.

World Cup Market Contribution

60%

Percentage of weekly trading volume from World Cup price prediction markets.

§ 01 Executive Snapshot

What: HIP-4 open interest reached an all-time high of approximately $25M, driven by World Cup betting.
Who: Hyperliquid, traders, and participants in sports prediction markets.
Why it matters: The surge in open interest highlights the growing popularity of prediction markets, particularly in the context of major sporting events, showcasing Hyperliquid's innovative position in the trading ecosystem.

Weekly trading volume on HIP-4 hit $16.32M as of June 11, 2026, with $9.63M (approximately 60%) coming from World Cup price prediction markets.
Total HIP-4 open interest has grown to around $51M, with sports-related open interest contributing $49.52M.
The champion market for the World Cup, where traders bet on the outright winner, is the dominant contract, with significant activity on France, Argentina, and Spain.

The introduction of fully collateralized binary outcome markets with HIP-4 represents a significant evolution in trading primitives, allowing for greater transparency and risk management.
As prediction markets gain traction, they reflect a broader trend in the financial ecosystem where users seek innovative ways to engage in speculative trading, particularly around high-profile events.

The immediate consequence of this surge in open interest is an increased competitive edge for Hyperliquid in the prediction market space, potentially attracting more traders.
Long-term, the success of HIP-4 could pave the way for further innovations in collateralized market structures, influencing future developments in decentralized finance and trading platforms.

Regulatory scrutiny around prediction markets could pose challenges, particularly as they gain popularity and attract larger volumes.
Competition from established prediction market platforms like Polymarket could impact Hyperliquid's market share if they introduce similar or more advanced features.

Monitoring the performance and growth of HIP-4 in the context of upcoming sporting events will be crucial to gauge its sustainability and market position.
Future developments that signal success would include the introduction of additional market types or features that enhance user engagement and trading volume.

§ 07

What is the significance of HIP-4's open interest reaching $25M?

The surge in open interest highlights the growing popularity of prediction markets, especially during major sporting events like the World Cup.

How much of the weekly trading volume on HIP-4 is attributed to World Cup markets?

As of June 11, 2026, approximately 60% of the weekly trading volume, or $9.63M, came from World Cup price prediction markets.

Who are the main participants in the HIP-4 prediction markets?

The main participants include Hyperliquid, traders, and individuals engaging in sports prediction markets.

What challenges could Hyperliquid face in the prediction market space?

Hyperliquid may encounter regulatory scrutiny and competition from established platforms like Polymarket, which could impact its market share.