Trade.xyz Launches ‘Events’ Prediction Market on Hyperliquid, Undercuts Polymarket Fees

The significance here is structural rather than product-level: a prediction market settling natively on Hyperliquid can price fees against a venue-agnostic token, which is a different competitive weapon than liquidity or market breadth. The fee comparison is also conditional — Polymarket's maker rebates and probability-linked pricing flip the advantage near-certain outcomes, so the undercut is sharpest in the mid-probability, taker-heavy flow that often defines retail activity. The open question is whether Hyperliquid's existing perp and spot users migrate into event contracts, or whether prediction-market liquidity stays a separate habit.