“hyperliquid's new model challenges polymarket and kalshi on oracle design and regulatory posture”
Galaxy Research breaks down Hyperliquid's HIP-4 protocol upgrade and positions it as the arrival of a third major prediction market model alongside Polymarket and Kalshi. Compares the three on infrastructure, fees, UX, oracle design, and regulatory posture across a 35-minute deep dive with live market data.
Some technical background helpful
Platforms mentioned: Hyperliquid, Polymarket, Kalshi, Limitless, predict.fun, Opinion