Polymarket crystallizes what the past couple days of X speculation and tea-leaf reading only hinted at: Native Markets, in collaboration with Stripe-owned stablecoins infra provider Bridge, is now the clear favorite to win the USDH ticker on Hyperliquid.

As of 12:30 p.m. ET, Polymarket betters gave Native around 65% odds, with Paxos a distant second, and Ethena, Frax, Agora, and Sky all but written off.

That lines up with early validator signaling. Infinite Field and CMI Trading have both publicly committed to voting for Native, citing its Hyperliquid-alignment and execution speed. Voting is now open, and final vote tallies are expected Sunday.

Paxos is still in the running….

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