Here's Why Hyperliquid Is Now a Threat to Robinhood, Kalshi, and Polymarket

Hyperliquid's new HIP-4 upgrade allows anyone staking 500,000 HYPE tokens to create permissionless prediction markets, directly challenging established competitors Robinhood, Kalshi, and Polymarket. The decentralized exchange's lower fees and automated token buyback mechanism position it as a significant threat, though U.S. regulatory restrictions and high staking requirements limit its immediate impact.