Hyperliquid Pushes into IPO Pre-Markets and Prediction Contracts as Regulators Take Notice

Hyperliquid is widening its crypto-derivatives footprint into IPO pre-markets, prediction contracts and tokenized real-world assets, stepping more directly into territory traditionally dominated by CME and newer event-betting venues such as Kalshi and Polymarket, CoinDesk reported. A new FalconX report said Hyperliquid's HIP3 markets now offer 24/7 trading across stocks, commodities, FX and pre-IPO contracts. HIP4 adds binary prediction markets tied to political, economic and crypto-related events. Investor demand is also building around the HYPE ecosystem. Spot HYPE ETFs from 21Shares and Bitwise have pulled in more than $530 million of net inflows in just a few sessions, a faster start by market-share measures than newly listed Bitcoin, Ethereum and Solana ETFs. Hyperliquid's USDC integration arrangements with Coinbase and Circle are projected to deliver about $160 million a year in protocol revenue. At the same time, CME and ICE have flagged potential market-manipulation risks to regulators, increasing scrutiny of the platform. Hyperliquid remains the leading decentralized perpetuals venue by trading volume, revenue and total value locked. The HYPE token is up 94% over the past three months.