Kalshi Crypto Director and others initiated the HIP 4 proposal in the Hyperliquid community, suggesting the introduction of event perpetual contracts

According to Techub News, Kalshi Crypto Director John Wang and others have initiated HIP 4 in the Hyperliquid community. This proposal proposes the introduction of "Event Perpetuals," a practical design for enabling builder-deployed prediction markets on the blockchain. Unlike traditional perpetuals, event perpetuals have no ongoing oracles or funding costs; their prices are determined entirely by trading activity. The price reflects the binary probability of an event occurring. A single resolution oracle update sets the market to 0 or 1 at the end of the event, causing trading to pause and positions to settle.