MONOLITH

Live odds comparison for World Cup Final: Argentina vs Spain 🏆 $100 bet across major prediction markets. Hyperliquid leads with strong payouts on both sides and 0% fees. PRED is right behind, and also one of the only platforms with 0% fees.

Kalshi just built exactly what traders were waiting for. A native desktop terminal for regulated prediction markets and perps. And they’re first (again). The key feature is the Active Markets Screener: around 2,000 markets scanned in real time, with sorting by price, spread, depth, and rolling 5-min volume, plus a continuous trade tape. For traders, this is a serious upgrade. It makes it easier to spot mispricing, track liquidity gaps, hedge exposure, and react faster during live events. Kalshi already did $16.1B in perp volume since launch. Now they’re adding proper professional tooling on top — the kind of frontend that starts looking like a TradingView-style layer for event contracts. This should accelerate the institutional adoption of prediction markets. More institutions, quants, and market makers can trade these markets seriously, which should improve liquidity, spreads, and price discovery around real-world events. Kalshi is clearly building toward a full financial exchange. Next quarter could look insane.

Prediction Markets Weekly Open Interest: Kalshi — $1.1B (-1.8%) Polymarket — $534M (-6.1%) Hyperliquid HIP-4 — $28M (+40%) predict.fun — $21.5M (+0.9%) opinionlabs.xyz — $4.6M (-8%) SX.Bet — $1.6M (-27.3%) Limitless Labs — $636K (-19.9%) Kalshi remains #1, supported by strong World Cup positioning. HIP-4 is the main move this week: +40% WoW and already #3 by OI in a very short time, without heavy marketing push. Most likely, growth is driven by new markets and rising activity around the 2026 World Cup. Limitless Labs continues to lose OI, as its focus remains more crypto-native, while current market attention is clearly elsewhere. The leaderboard is getting tighter. HIP-4 is the one to watch.

Kalshi Perps may be one of the fastest starts we’ve seen in Perp Markets. For comparison: Hyperliquid Perps launched in Aug 2023 with ~$2B volume in the first month. By Mar 2024, it reached ~$53B. That’s ~27x in 8 months. Kalshi Perps already crossed $10B+ volume in its first month. That’s ~5x higher than Hyperliquid’s first-month volume. Open interest shows the same picture: Hyperliquid in Aug 2023: ~$6M OI Kalshi in Jun 2026: ~$10M OI Just imagine what this looks like in 12 months. But the market context is different. In 2023, total perp OI was around $25–50B. Today, it’s above $106B — meaning Kalshi entered a much larger and more liquid market. Still, the speed of adoption is notable. And whether Polymarket entering Perps will absorb a large part of this liquidity before Kalshi scales further?

POV: you bet on Egypt yesterday

Top 5 Perp DEX by dominance (last 7D): Hyperliquid — 33.9% (+6%) Aster — 8.5% (+5%) Lighter — 6.8% (+7%) Variational — 4.7% (+27%) edgeX Exchange — 2.7% (-39%) Hyperliquid is still in full control. Volume is down, but OI moved above $10B and the VALR integration adds a new distribution layer: a CEX using Hyperliquid as onchain perp infrastructure. The real move is Variational. Market share is up, and it is already #3 by OI in this group, and #4 on the list, finally flipping edgeX. Its TradFi markets now account for 22% of OI and 19% of trading volume, which explains part of the bid. edgeX Exchange looks like it is running out of time, activity keeps disappearing.

“Anything you can do, I can do better”

Prediction Markets Weekly Open Interest: Kalshi — $1.12B (-7%) Polymarket — $568.7M (+19%) predict.fun — $21.3M (+2%) Hyperliquid — $20M (+24%) opinionlabs.xyz — $5M (-6%) SX.Bet — $2.2M (-45%) Limitless Labs — $794K (+5%) Kalshi is slightly down this week, but still holds the lead above $1B OI.Their marketing remains on high level: World Cup campaigns like signed football shirts from Messi. Polymarket is back to growth, up 19% this week. The move may be helped by the recent Conor McGregor collaboration, which brought attention back to the platform after a few flat weeks. HIP-4 is getting very close to Predict.fun, few days ago it hit a new ATH around $27M. At that level, HIP-4 would already be #3 by OI, ahead of Predict.fun. Limitless Labs is still not getting much user attention. World Cup markets are taking most of the liquidity, while Limitless Labs remains more crypto-native prediction market platform. The leaderboard is getting tighter.

HIP-4 just hit a new OI high at ~$27M. A few months ago, this looked like a small experiment inside Hyperliquid, but now it's already sitting close to the top prediction markets by metrics. One market alone, "Argentina to win the World Cup", is doing around $4.7M in volume. And unlike most World Cup campaigns, HIP-4 is growing without huge reward budgets, celebrity partnerships, or aggressive marketing. Just markets, liquidity, and users coming back because they trust the system. For a market only a few months old, HIP-4 is already trading at roughly 10–15% of Polymarket’s daily volume level from last year. Prediction markets leaderboard in 1–2 years may look very different. Hyperliquid keeps accelerating.

Top 5 Perp DEX (last 7D): Hyperliquid — 32% (-14%) Aster — 8.1% (-4%) Lighter — 6.4% (+1%) edgeX Exchange — 4.4% (+13%) Variational — 3.7% (+5%) Perp DEX market is under pressure this week. Aster is still #2, but share continues to slip despite new listings and active incentives. Lighter held its market share almost flat at 6.4%, which is probably the strongest signal this week among the top 5. Meanwhile, Variational keeps moving quietly and is already #3 by OI among this list, with almost $1B in open interest. Market-wide slowdown, but not the same story for everyone.