Kalshi Crypto Lead and Others Propose HIP 4 in the Hyperliquid Community, Suggesting the Introduction of Event Perpetuals

Foresight News reports that Kalshi Crypto Lead John Wang and others have proposed HIP 4 in the Hyperliquid community, recommending the introduction of 'Event Perpetuals.' This is a practical design for prediction markets deployed by builders on the blockchain. Unlike traditional perpetual contracts, event perpetuals do not require continuous oracle updates or funding costs; prices are entirely determined by trading activity. The price reflects the binary probability of an event occurring. A single oracle update at the conclusion of the event will set the market to 0 or 1, causing trading to halt and positions to be settled.