We took the time at @formation_mkts to compile all of our external research and tooling in one space. More than happy to fully share any of the tooling behind this research, as we know it's been helpful for people in terms of career direction and people have even raised venture capital on the back of it (which of course we are happy to see). If you're genuinely excited about aggregating event risk (company KPIs or even deal-contingent event risk) and making it palatable to traditional derivative markets, we would love to talk to you as we onboard more world-class people to the team.

Lula's upset in Brazil's runoff election is pointed to as proof prediction markets don't offer accurate signal. This take misses the mark. This week @glxyresearch covered the relationship between prediction markets and Brazil's election comeback story.

trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States. In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch. We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress. ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid. Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it. ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one. We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them. To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story. Anything. Anytime. On ICE[XYZ].

Recently, @glxyresearch dug into the behavior of Polymarket traders. Using Stork Market Data for account-level history, researcher @wowens filtered out automated activity and measured (among other things): - Where traders tend to specialize - Where specialists are most profitable