Polymarket 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 18 differences
| Line | Polymarket | Hyperliquid Outcomes |
|---|---|---|
| Type | VenueLists, matches and settles its own markets | VenueLists, matches and settles its own markets |
| Taker fee | 0–3.5% at 50¢Takers pay contracts × rate × p × (1 − p): 0.07 in crypto, 0.05 in sports, economics, culture and weather, 0.04 in politics, finance, tech and mentions, 0 in geopolitics; combos 0.05. 100 contracts at 50¢ cost $1.75 in crypto, $1.25 in sports and $1.00 in politics. Makers pay nothing and share 15% to 25% of taker fees; deposits and withdrawals carry no Polymarket fee. | 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$2.31B | $56.4M |
| New-user perk | None documented | Edge4% off fees on your first $25M of volume |
| Custody | Self-custody: your keys, collateral in a smart contract | Self-custody, same account as perps and spot |
| Identity check (KYC) | Above a thresholdSign up with an email or a self-custody wallet; Polymarket asks its top-volume traders for more information. Its terms forbid using a VPN to get around a block. | No KYCNo identity check: you connect a wallet. |
| Excluded countries | 41Polymarket's API docs block Iran, Syria, Cuba, North Korea, Crimea, Donetsk and Luhansk outright. In 37 other countries, including the US, the UK, France, Germany, Italy, Australia and Brazil, plus British Columbia, Ontario, Alberta and Quebec, you can only close positions you already hold; Ireland, Japan, the Netherlands and South Korea are close-only on the website only, and Malta for sports only. The help center (14 August 2026) calls most of them fully blocked. US residents are sent to Polymarket US. | 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 | Optimistic oracleUMA's optimistic oracle: anyone proposes an outcome against a bond, typically $750 pUSD, then a two-hour challenge window opens. A second dispute goes to a vote of UMA token holders. Crypto up/down markets settle from Chainlink instead. | 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 | Polygon | HyperCore (L1 Hyperliquid) |
| Collateral | pUSD | USDC |
| Operator | Adventure One QSS Inc. | Hyperliquid Corp. |
| Token | No token | HYPEHyperliquid L1 |
| Where it runs | Web | Web, Android |
| Chains | EVMPolygon | HyperliquidHyperliquid |
| Documented features | 4 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 | No | Yes |
| Telegram bot | Not documented | Not documented |
| Own token | No | Yes |
| Points program | Not documented | No |
Which one should you pick?
Pick Polymarket if
You want to trade from your own wallet, without a document check, in a country Polymarket serves.
The crypto-native venue: a central order book settled on Polygon, collateral that stays in your wallet, and a fee that depends on the market's category, from nothing in geopolitics to 3.5% at 50¢ in crypto. Access is the catch: 41 countries are blocked or close-only, the US, the UK and France among them, and France's regulator has ordered internet providers to block the site.
Read the Polymarket reviewpolymarket.com
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
