Platform review
Hedgehog Markets review
Permissionless prediction markets on Solana and Eclipse, with very thin books
Our verdict
Real binary markets, real questions, almost no money in them. Hedgehog builds permissionless prediction markets on Solana and Eclipse by its own description, and the board covers crypto, politics, technology and sports with questions worth asking — Fed policy, an OpenAI lawsuit, US politics. The problem is depth: individual featured markets showed $38 and $503 when we looked, and at that size any position you would notice is the market. It publishes no terms, no privacy policy and no named operator, so who holds what and under whose law is unknown. Its interface is written in betting language throughout — "Bet. On. Anything." — while the instrument itself is an ordinary binary contract, which is a mismatch of framing rather than of mechanics. Interesting to watch, not somewhere to size a position.
Pros and cons
What works
- Trading mechanics are visible in the application itself
- The venue states its own scope: permissionless prediction markets on Solana and Eclipse
- Featured markets display their own liquidity figures, so the depth is visible before you connect
- Runs on Solana and Eclipse, so settlement and balances are on a public chain rather than an operator’s ledger
- No terms means no clause asking you to waive recourse — thin comfort, but several venues here do ask
What doesn’t
- Nothing is published about how markets resolve: eleven likely paths 404 and six documentation subdomains do not resolve
- Market content sits behind Connect Wallet, so per-market rules cannot be read before connecting
- No terms, no privacy policy and no named operator
- Featured markets showed $38 and $503 of liquidity — at that depth a position of any size is the market
- Third-party descriptions of an oracle are uncorroborated by anything the venue publishes, so they are not used here
Prices and liquidity
We do not currently publish live quotes for Hedgehog Markets. Check the platform’s order book before placing an order: the last trade can differ from the price available for your position size.
How to assess liquidity and spreads →Nothing is published about how this venue works
This rating rests on a documented absence, established by looking rather than inferred from the venue’s size. Eleven likely paths return 404: /docs, /terms, /terms-of-service, /tos, /legal, /help, /faq, /rules, /whitepaper, /how-it-works and /resolution. Six documentation subdomains fail to resolve: docs, help, support, learn, wiki and gitbook.
The homepage’s complete set of internal links is /, /markets, /versus and /create/custom — nothing legal, nothing explanatory. And a search of the application’s own compiled JavaScript for gitbook, docs.hedgehog, “terms of service” and “resolution source” returns nothing. All of that was checked on 9 September 2026.
The venue’s own meta description states it is “building permissionless prediction markets on Solana and Eclipse”, and that is very nearly the extent of what it says about itself. There is no named operator, no terms and no privacy policy.
You cannot read a market’s rules before committing a wallet
Market content sits behind “Connect Wallet”. So the per-market criteria — the text that actually decides whether you are paid — cannot be read before connecting. With no documentation anywhere else on the site, that leaves no route at all to find out how a market settles without first attaching a wallet to the application.
That inverts the order every other venue on this site allows, including the ones with no documentation at all: read the rules, then decide. Here the decision to connect comes first. Connecting a wallet to read is not the same as depositing, but it is a step taken without the information the step is meant to inform.
Third-party descriptions are not used here
Third-party write-ups do describe an oracle and creator-set resolution sources for this venue. None of it is corroborated by anything Hedgehog publishes, so none of it is used on this page.
That is a deliberate editorial rule rather than a shortage of effort. A description of a settlement mechanism that the venue itself has never stated is not something a reader can rely on, and repeating it here would manufacture a confidence that nothing supports. If Hedgehog publishes its resolution process, this page will quote it with the date we read it.
The depth, and what it means
Individual markets showed $38 and $503 when we read them on 8 September 2026 — and those are the venue’s own figures, on its featured markets rather than its long tail. At that depth a position of any size is the market: you would be trading against your own impact rather than against a price.
Taken with the rest of this page, the position is straightforward. A venue with no published rules is unassessable rather than proven bad, which is why the resolution rating is not zero. But on a page about where to put money, unassessable is close to the same thing, and the depth figures mean there is little here to trade even if the rules were published tomorrow.
User reviews
We have no approved reviews for Hedgehog Markets. Every submission is read by a moderator before it appears, and none has passed for this platform. The User Score is not published below 3 reviews, so nothing is averaged here either — the Editor Score above is measured against our own criteria and does not depend on it.
New review submissions are temporarily closed. For corrections, contact bestpredictionmarkets@proton.me.
Hedgehog Markets FAQ
- How do Hedgehog markets resolve?
- Hedgehog does not say, and we established that by looking rather than assuming. Eleven likely paths return 404 — including /docs, /terms, /rules, /how-it-works and /resolution — six documentation subdomains fail to resolve, the homepage’s complete internal link set is /, /markets, /versus and /create/custom, and a search of the application’s own compiled JavaScript for “terms of service” and “resolution source” returns nothing. Third-party write-ups do describe an oracle; none of it is corroborated by anything the venue publishes, so none of it is used on this page.
- Can I read a market’s rules before connecting a wallet?
- No. Market content sits behind “Connect Wallet”, so the criteria that decide whether you are paid cannot be read beforehand. That inverts the order every other venue on this site allows, including those with no documentation at all: normally you read the rules and then decide. Connecting a wallet is not the same as depositing, but it is a step taken without the information the step is meant to inform.