Polymarket US vs Hyperliquid Outcomes
Same lines, side by side: fee at 50¢, custody, KYC, excluded countries, resolution and volume, from official pages and DefiLlama.
See the 17 differences
| Line | Polymarket US | Hyperliquid Outcomes |
|---|---|---|
| Type | VenueLists, matches and settles its own markets | VenueLists, matches and settles its own markets |
| Taker fee | 3.48% at 50¢Since 19 October 2026, takers pay 0.0695 × contracts × p × (1 − p): 100 contracts at 50¢ cost $1.74. Table tennis uses 0.10. Makers pay nothing and earn a rebate from $10M of monthly maker volume; takers get 3% to 30% back from $250,000 of monthly volume. The fee page announces 30-day volume tiers for taker fees and rebates from 6 November 2026, still marked as upcoming, with 0.0695 kept for a new account's first 7 days. | Not publishedHyperliquid's fee page says outcome trades pay only when a position is closed or settled, never when it opens, but gives no rate, and its HIP-4 page still says outcome fees are zero during testing. DefiLlama counted $75.5K of outcome fees over 30 days, front-end builder fees included, on $56.4M of volume. Makers pay nothing. |
| 30-day volume | Edge$3.14B | $56.4M |
| New-user perk | $25 trading credit after signing up with a referral code and depositing at least $10 | 4% off fees on your first $25M of volume |
| Custody | Custodial dollar account | EdgeSelf-custody, same account as perps and spot |
| Identity check (KYC) | KYC requiredEvery account is verified: legal name, date of birth, address and Social Security number, plus a photo ID and a selfie when more checks are needed. | No KYCNo identity check: you connect a wallet. |
| Excluded countries | Open only to residents of United StatesOpen to US residents only, and trading is not available in Nevada, although its App Store page claims all 50 states. | 1Hyperliquid's terms exclude the US, Ontario and sanctioned territories. Outcome markets add their own list of “Excluded Persons”, which Hyperliquid does not publish. |
| Resolution | Decided by the exchangeMarkets settle under the exchange's rulebook. Polymarket US publishes rule clarifications and can cancel resting orders when it clarifies a market. | Validator voteValidators publish the canonical markets and vote their outcomes on-chain against predefined rules, with a dispute window. No UMA or Chainlink oracle is involved. |
| Settles on | Polymarket Clearing | HyperCore (L1 Hyperliquid) |
| Collateral | USD | USDC |
| Operator | QCX LLC (Polymarket US)CFTC (DCM, DCO) | Hyperliquid Corp. |
| Token | No token | HYPEHyperliquid L1 |
| Where it runs | Web, iOS, Android | Web, Android |
| Chains | — | EdgeHyperliquidHyperliquid |
| Documented features | Edge5 of 10 | 4 of 10 |
| Order book | Yes | Yes |
| Anyone can create a market | No | No |
| Combos / parlays | Yes | Not documented |
| Maker rebates | Yes | No |
| Yield on collateral | Not documented | Not documented |
| Trading API | Yes | Yes |
| Mobile app | Yes | Yes |
| Telegram bot | Not documented | Not documented |
| Own token | Not documented | Yes |
| Points program | Not documented | No |
Which one should you pick?
Pick Polymarket US if
You live in the US outside Nevada and want Polymarket in a regulated app with dollar deposits.
Polymarket's regulated twin for Americans: same brand, but a separate CFTC-regulated exchange with dollar accounts, identity checks and its own fee formula. Its taker fee has been almost exactly Kalshi's since 19 October 2026, though volume tiers are announced from 6 November, and it serves no one outside the US.
Read the Polymarket US reviewpolymarket.us
Pick Hyperliquid Outcomes if
You already trade on Hyperliquid and want event contracts next to your perps, without KYC.
Prediction markets inside Hyperliquid: since May 2026, outcome contracts trade on HyperCore's order books from the same account as your perps and spot, settled in USDC and resolved by validator vote. The open question is the fee: positions pay on close or settlement, at a rate Hyperliquid has not published.
Read the Hyperliquid Outcomes reviewapp.hyperliquid.xyz
