Right now, traders can use prediction markets to bet on crypto prices. However, traders must specify an end date for any event contract. In other words, you can bet on Bitcoin (CRYPTO: BTC), but you’ll have to specify that it will hit a certain price by the end of a certain time period (e.g., the end of 2026). You can’t just keep an event contract open in perpetuity.

But that could change soon. Prediction markets such as Kalshi and Polymarket want a piece of the booming perpetual futures market, which could have huge consequences for market leader Hyperliquid (CRYPTO: HYPE). If perpetual futures contracts are available on popular prediction market platforms, the price of Hyperliquid could soon come under extreme pressure.