This market will resolve to "Yes" if OpenAI's GPT-5.6 model is made available to the general public by the specified date (ET). Otherwise, this market will resolve to "No."

GPT-5.6 refers to a product explicitly named GPT-5.6, or a variant that is recognized as a direct successor to GPT-5.5, similar to the progression from GPT-5.1 to GPT-5.2. (e.g., GPT-5.7, GPT-5.8, etc., would qualify toward a "Yes" resolution to this market)
 
Qualifying releases of task-specialized models (e.g., GPT-Codex/Transcribe), cost-efficiency variants (e.g., Nano/Mini), or reasoning models of the o-series family will count for this market. Products labeled as a new flagship generation GPT-6 or similar will NOT qualify.

For this market to resolve to "Yes," a qualifying model must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. 

The release must be either clearly defined and publicly announced by OpenAI as being accessible to the general public or otherwise made publicly accessible and explicitly labeled within the company’s official website. Labeling errors, placeholder text, or version names displayed on the website that do not correspond to a model that is actually accessible to the general public will not qualify.

The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.

This market will resolve to "Yes" if OpenAI's GPT-5.6 model is made available to the general public by the specified date (ET). Otherwise, this market will resolve to "No."

GPT-5.6 refers to a product explicitly named GPT-5.6, or a variant that is recognized as a direct successor to GPT-5.5, similar to the progression from GPT-5.1 to GPT-5.2. (e.g., GPT-5.7, GPT-5.8, etc., would qualify toward a "Yes" resolution to this market)

Qualifying releases of task-specialized models (e.g., GPT-Codex/Transcribe), cost-efficiency variants (e.g., Nano/Mini), or reasoning models of the o-series family will count for this market. Products labeled as a new flagship generation GPT-6 or similar will NOT qualify.

For this market to resolve to "Yes," a qualifying model must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. 

The release must be either clearly defined and publicly announced by OpenAI as being accessible to the general public or otherwise made publicly accessible and explicitly labeled within the company’s official website. Labeling errors, placeholder text, or version names displayed on the website that do not correspond to a model that is actually accessible to the general public will not qualify.

The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.

July 24

July 31

July 17

GPT-5.6 released by...?

This market will resolve according to the date (ET) on which OpenAI's GPT-5.6 model is made available to the general public.

GPT-5.6 refers to a product explicitly named GPT-5.6, or a variant that is recognized as a direct successor to GPT-5.5, similar to the progression from GPT-5.1 to GPT-5.2. (e.g., GPT-5.7, GPT-5.8, etc., would qualify toward a "Yes" resolution to this market)

Qualifying releases of task-specialized models (e.g., GPT-Codex/Transcribe), cost-efficiency variants (e.g., Nano/Mini), or reasoning models of the o-series family will count for this market. Products labeled as a new flagship generation GPT-6 or similar will NOT qualify.

For this market to resolve to "Yes," a qualifying model must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. 

The release must be either clearly defined and publicly announced by OpenAI as being accessible to the general public or otherwise made publicly accessible and explicitly labeled within the company’s official website. Labeling errors, placeholder text, or version names displayed on the website that do not correspond to a model that is actually accessible to the general public will not qualify.

The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.

July 7

July 8

July 9

GPT-5.6 released on...?

This market will resolve to the company that achieves the highest market capitalization in U.S. dollars based on the official closing price on its first trading day in 2026.

This market will resolve to a company that completes an Initial Public Offering (IPO) between January 1 and December 31, 2026, 11:59 PM ET.

Market capitalization is defined as the total number of outstanding shares multiplied by the closing share price on the first trading day.

If two or more companies have exactly equal highest closing market capitalizations, this market will resolve to the company whose listed name comes first alphabetically.

Resolution will be based on the primary exchange’s official listing page. In the event that the relevant figure is not displayed, another reliable source will be used.

In case the respective company's primary exchange’s official listing page does not report in U.S. dollars, it will be converted to U.S. dollars using the U.S. Federal Reserve Board’s H.10 foreign exchange reference rate for the relevant currency pair on the company’s first trading day (https://www.federalreserve.gov/releases/h10/). If no such rate is available for the relevant trading day, the most recent previously published rate will be used. If the relevant currency is not listed, another credible exchange rate source will be used.

A listed company may resolve to "No" as soon as it becomes unable to complete an IPO, including due to acquisition, merger, or absorption by an entity that is already publicly traded.

In the event of an interruption in the course of the normal trading session on the respective companies’ first day of trading (e.g., a circuit breaker or half-day), the market will resolve according to the official closing price of the abbreviated session. If no such official closing price is published, the market will resolve according to the next trading day on which an official closing price is published, treating that as the first day of trading for purposes of this market.

SpaceX

Anthropic

OpenAI

Largest IPO by market cap in 2026?

This market will resolve according to the company which owns the model which has the highest arena rank based off the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) when the table under the "Leaderboard" tab is checked on December 31, 2026, 12:00 PM ET.

Results from the "Rank" section on the Leaderboard tab of https://lmarena.ai/leaderboard/text with the style control off will be used to resolve this market.

Models will be ordered primarily by their leaderboard rank at the market’s check time. If two or more models are tied on rank, they will be ordered by their Arena score, including any underlying, unrounded, granular values reflected in the data below the leaderboard. If a tie remains, alphabetical order of company names as listed in this market group will be used as a final tiebreaker (e.g., if the two models are tied by exact arena score, “Google” would be ranked ahead of “xAI”). This market will resolve based on the company that occupies first place under this ranking system.

The resolution source for this market is the Chatbot Arena LLM Leaderboard found at https://lmarena.ai/. If this resolution source is unavailable at check time, this market will remain open until the leaderboard comes back online and resolve based on the first check after it becomes available. If it becomes permanently unavailable, this market will resolve based on another resolution source.

Google

Best AI Company

Which company has best AI model end of 2026?

This market will resolve to "Yes" if OpenAI's private market valuation, as measured by the NPM Price reported by Nasdaq Private Market, LLC (NPM) for any date between market creation and December 31, 2026, reaches or exceeds the listed amount. Otherwise, this market will resolve to "No".

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for all business dates in the specified period by 1:00 PM ET on January 1, 2027, this market may remain open until 11:59 PM ET on January 4, 2027. If no further data is released by that time, the market will resolve according to the data available.

If NPM ceases publishing relevant data prior to the end of the specified period, this market will resolve based on the NPM data published for the period prior to the cessation of coverage, as well as any applicable public market capitalization data following an IPO or direct listing. 

If the company completes an IPO or direct listing before the end of the specified period, this market will consider, in addition to the relevant NPM valuations published between market creation and the IPO or direct listing date, the valuation implied by the official IPO or direct listing price, and the company's public market capitalization between the IPO or direct listing date and the end of the specified period.

Public market capitalization will be determined using the highest/lowest official regular-hours trading price published for the company's primary listed common equity on its primary exchange for any trading day during the specified period, multiplied by the company's total outstanding common shares at the relevant time.

If the listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If the listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only NPM valuations and applicable public market capitalizations achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

The resolution source for this market is NPM data published here (https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data?return_url=https://polymarket.com/finance/privates). The resolution source for any period following an IPO, direct listing, or relevant corporate action, will be official exchange trading data and publicly reported share counts.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

This market will resolve to "Yes" if OpenAI's private market valuation, as measured by the NPM Price reported by Nasdaq Private Market, LLC (NPM) for any date between market creation and December 31, 2026, reaches or exceeds the listed amount. Otherwise, this market will resolve to "No".

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for all business dates in the specified period by 1:00 PM ET on January 1, 2027, this market may remain open until 11:59 PM ET on January 4, 2027. If no further data is released by that time, the market will resolve according to the data available.

If NPM ceases publishing relevant data prior to the end of the specified period, this market will resolve based on the NPM data published for the period prior to the cessation of coverage, as well as any applicable public market capitalization data following an IPO or direct listing.

If the company completes an IPO or direct listing before the end of the specified period, this market will consider, in addition to the relevant NPM valuations published between market creation and the IPO or direct listing date, the valuation implied by the official IPO or direct listing price, and the company's public market capitalization between the IPO or direct listing date and the end of the specified period.

Public market capitalization will be determined using the highest/lowest official regular-hours trading price published for the company's primary listed common equity on its primary exchange for any trading day during the specified period, multiplied by the company's total outstanding common shares at the relevant time.

If the listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If the listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only NPM valuations and applicable public market capitalizations achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

The resolution source for this market is NPM data published here (https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data). The resolution source for any period following an IPO, direct listing, or relevant corporate action, will be official exchange trading data and publicly reported share counts.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

↑$900B

↑$1.0T

↑$1.25T

OpenAI Valuation

Will OpenAI's valuation hit __ by December 31?

This market will resolve to the listed company with the second largest private market valuation on July 31, 2026. 

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for the specified date by 1:00 PM ET on August 1, 2026, this market may remain open until 11:59 PM ET on August 4, 2026. If no further data is released by that time, the market will resolve according to the data available.

If NPM ceases publishing relevant data prior to the specified date, this market will resolve based on the NPM data published prior to the cessation of coverage, as well as applicable public market capitalization data following an IPO or direct listing.

If a company completes an IPO or direct listing before the specified date, this market will resolve based on its final NPM valuation published between market creation and the IPO or direct listing date, as this market is based on private market valuations only.

If a listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If a listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only the NPM valuation achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

If two or more companies are tied for the second highest valuation, the markets will resolve in favor of the company that achieved that valuation first. If the valuations were achieved on the same day, the market will resolve in favor of the company whose listed name comes first alphabetically.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

The resolution sources for this market are:
https://fe.secondmarket.com/companies/company-c62b8140-fdeb-428d-a9a6-d04eb3b24b49/data
https://fe.secondmarket.com/companies/company-3e197763-4ff8-4d8c-bd1f-cc2792937757/data
https://fe.secondmarket.com/companies/company-5e0e75a3-96d6-4893-8f23-9d9bac0ec1db/data
https://fe.secondmarket.com/companies/company-53787f17-a704-47a9-895a-cb54833bdb1f/data
https://fe.secondmarket.com/companies/company-625e5f47-7ff7-45c4-be95-0305665164bd/data
https://fe.secondmarket.com/companies/company-ab5413cb-1c83-497e-b03e-2ed7ca70117d/data
https://fe.secondmarket.com/companies/company-86eda4f2-01af-4275-9c70-0ff3c347c62b/data
https://fe.secondmarket.com/companies/company-782c0a32-4727-4097-a40b-9a2602f243e7/data
https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data
https://fe.secondmarket.com/companies/company-802a7f97-3625-4614-a13d-d999cf139330/data
https://fe.secondmarket.com/companies/company-6edded11-6786-4392-9695-3cce6fda0de0/data.

Stripe

2nd Largest Private Company

2nd largest private company end of July?

This market will resolve to "Anthropic" if Anthropic completes an Initial Public Offering (IPO) before OpenAI completes an IPO by December 31, 2027, 11:59 PM ET, as confirmed by official company announcements and credible news sources. 

This market will resolve to "OpenAI" if OpenAI completes an Initial Public Offering (IPO) before Anthropic completes an IPO by December 31, 2027, 11:59 PM ET, as confirmed by official company announcements and credible news sources. 

This market will resolve 50-50 if:
- Neither company completes an Initial Public Offering (IPO) by December 31, 2027, 11:59 PM ET;
- Both companies complete an IPO on the same calendar date (ET); or
- By December 31, 2027, 11:59 PM ET, both companies become unable to complete an IPO, including due to acquisition, merger, or absorption by an entity that is already publicly traded.

The IPO refers to the first sale of stock by the listed company to the public on any recognized stock exchange.

The resolution source for this market is a consensus of credible reporting.

Will Anthropic or OpenAI IPO first?

This market will resolve to the listed company with the larger valuation, as measured by the final NPM Price reported by Nasdaq Private Market, LLC (NPM) and the official closing price for the public company, for December 31, 2026.

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for the specified date by 1:00 PM ET on January 1, 2027, this market may remain open until 11:59 PM ET on January 4, 2027. If no further data is released by that time, the market will resolve according to the latest data available.

If NPM ceases publishing relevant data prior to the specified date, this market will resolve based on the NPM data published prior to the cessation of coverage, as well as applicable public market capitalization data following an IPO or direct listing.

If the private company completes an IPO or direct listing before the specified date, this market will resolve according to the company's public market capitalization at the market close of the specified date or the most recent trading day.

Public market capitalization will be determined using the final official regular-hours trading price published for the company's primary listed common equity on its primary exchange for the specified date or the most recent trading day, multiplied by the company's total outstanding common shares at the relevant time.

If a listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If a listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only the NPM valuation and applicable public market capitalization achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

The resolution source for the private company is NPM data published here (https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data?return_url=https://polymarket.com/finance/privates). The resolution source for any period following an IPO, direct listing, or relevant corporate action, will be official exchange trading data and publicly reported share counts.

If OpenAI's valuation is equal to Meta's public market capitalization at resolution, this market will resolve to 50-50.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

OpenAI vs Meta — higher valuation on December 31?

This market will resolve to the listed company with the largest private market valuation on July 31, 2026. 

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for the specified date by 1:00 PM ET on August 1, 2026, this market may remain open until 11:59 PM ET on August 4, 2026. If no further data is released by that time, the market will resolve according to the data available.

If NPM ceases publishing relevant data prior to the specified date, this market will resolve based on the NPM data published prior to the cessation of coverage, as well as applicable public market capitalization data following an IPO or direct listing.

If a company completes an IPO or direct listing before the specified date, this market will resolve based on its final NPM valuation published between market creation and the IPO or direct listing date, as this market is based on private market valuations only.

If a listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If a listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only the NPM valuation achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

If two or more companies are tied for the highest valuation, the markets will resolve in favor of the company that achieved that valuation first. If the valuations were achieved on the same day, the market will resolve in favor of the company whose listed name comes first alphabetically.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

The resolution sources for this market are:
https://fe.secondmarket.com/companies/company-c62b8140-fdeb-428d-a9a6-d04eb3b24b49/data
https://fe.secondmarket.com/companies/company-3e197763-4ff8-4d8c-bd1f-cc2792937757/data
https://fe.secondmarket.com/companies/company-5e0e75a3-96d6-4893-8f23-9d9bac0ec1db/data
https://fe.secondmarket.com/companies/company-53787f17-a704-47a9-895a-cb54833bdb1f/data
https://fe.secondmarket.com/companies/company-625e5f47-7ff7-45c4-be95-0305665164bd/data
https://fe.secondmarket.com/companies/company-ab5413cb-1c83-497e-b03e-2ed7ca70117d/data
https://fe.secondmarket.com/companies/company-86eda4f2-01af-4275-9c70-0ff3c347c62b/data
https://fe.secondmarket.com/companies/company-782c0a32-4727-4097-a40b-9a2602f243e7/data
https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data
https://fe.secondmarket.com/companies/company-802a7f97-3625-4614-a13d-d999cf139330/data
https://fe.secondmarket.com/companies/company-6edded11-6786-4392-9695-3cce6fda0de0/data.

Kraken

Largest Private Company

Largest private company end of July?

This market will resolve to "Yes" if OpenAI's private market valuation, as measured by the NPM Price reported by Nasdaq Private Market, LLC (NPM) for any date between market creation and July 31, 2026, reaches or exceeds the listed amount. Otherwise, this market will resolve to "No".

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for all business dates in the specified period by 1:00 PM ET on August 1, 2026, this market may remain open until 11:59 PM ET on August 4, 2026. If no further data is released by that time, the market will resolve according to the data available.

If NPM ceases publishing relevant data prior to the end of the specified period, this market will resolve based on the NPM data published for the period prior to the cessation of coverage, as well as any applicable public market capitalization data following an IPO or direct listing.

If the company completes an IPO or direct listing before the end of the specified period, this market will consider, in addition to the relevant NPM valuations published between market creation and the IPO or direct listing date, the valuation implied by the official IPO or direct listing price, and the company's public market capitalization between the IPO or direct listing date and the end of the specified period.

Public market capitalization will be determined using the highest/lowest official regular-hours trading price published for the company's primary listed common equity on its primary exchange for any trading day during the specified period, multiplied by the company's total outstanding common shares at the relevant time.

If the listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If the listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only NPM valuations and applicable public market capitalizations achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

The resolution source for this market is NPM data published here: (https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data). The resolution source for any period following an IPO, direct listing, or relevant corporate action, will be official exchange trading data and publicly reported share counts.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

↓$850B

↑$950B

Will OpenAI's valuation hit __ by July 31?

This market will resolve to “Yes” if OpenAI makes a new frontier model available to the general public by the specified date (ET). Otherwise, this market will resolve to “No”.

For this market to resolve to “Yes”, OpenAI’s new frontier model must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public.

A frontier model refers to a newly released OpenAI model that OpenAI describes as one of its most capable or next-generation, general-purpose flagship models.

Qualifying new frontier models include successors to existing frontier models, such as GPT 5.2, which could succeed GPT 5.1 in the same way that GPT 5.1 succeeded GPT 5. Models focused on a specific task such as image generation or which are versions of a previous model optimized for a specific task (i.e. GPT 5.1-codex) or for cost-efficiency (i.e. GPT-5 mini) will not count.

Qualifying frontier models which are separate from the OpenAI GPT series will count. A qualifying new model from OpenAI’s o-series (i.e. o1, o3) will count.

The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.

September 30

June 30

Will OpenAI release a new frontier model by...?

This market will resolve to "Yes" if the next model released by OpenAI has at least the specified score on the Arena.AI Leaderboard (arena.ai/leaderboard/text) when the table under the "Leaderboard" tab is checked on the date after the day of the release, 12:00 PM ET.  Otherwise, this market will resolve to "No".

Results from the "Score" column under the "Text Arena | Overall" Leaderboard tab at https://lmarena.ai/leaderboard/text with style control off will be used to resolve this market.

If no qualifying score for the specified model is available on the Arena.AI Leaderboard at 12:00 PM ET following the date of the release, this market will resolve based on the first subsequent instance at which such a score becomes available on the leaderboard. If no qualifying score becomes available by the end of the seventh day following the day of the model’s release, or if no qualifying model release occurs by December 31, 2026, 11:59 PM ET, this market will resolve to "No".

If multiple models are released on the same calendar date or if multiple variants of the specified model appear on the Arena.AI Leaderboard at the relevant check time (e.g., base, “Thinking,” or “Instant”), the highest-scoring variant will be used for resolution.

A qualifying model must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be either clearly defined and publicly announced as being accessible to the general public or otherwise made publicly accessible and explicitly labeled within the company’s official website. Labeling errors, placeholder text, or version names displayed on the website that do not correspond to a model that is actually accessible to the general public will not qualify.

The resolution source for this market is the Chatbot Arena LLM Leaderboard found at arena.ai/leaderboard/text. If this resolution source is unavailable at 12:00 PM ET following the date of the release, this market will resolve based on the first subsequent instance at which such a score becomes available on the leaderboard. If it remains unavailable through the end of the seventh day after a qualifying release, it will resolve to "No".

1450+

1470+

1480+

OpenAI Debut

Next OpenAI Model: Arena Debut?

This market will resolve according to "Yes" if the listed type of consumer hardware product is publicly announced by OpenAI by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

The announcement of a qualifying consumer hardware product within the market timeframe will suffice, regardless of whether or when the product is released.

If a device fulfills multiple device categories, then all relevant categories will resolve to "Yes".

The resolution source will be official information from OpenAI.

Earbuds/Headphones

Clip-on device for clothing

Glasses

What kind of product will OpenAI announce in 2026?

This market will resolve based on OpenAI's market capitalization at the closing price on its first day of trading.

If no IPO occurs by December 31, 2026, 11:59 PM ET, the market will resolve to "No IPO by December 31, 2026".

Market capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency. It is calculated as the number of shares outstanding multiplied by the closing share price on the first trading day.

If the relevant value falls exactly between two brackets, then this market will resolve to the higher range bracket.

Resolution will be based on the primary exchange’s official listing page. In the event that the relevant figure is not displayed, another reliable source will be used.

In the event of an interruption in the course of the normal trading session on OpenAI’s first day of trading (e.g., a circuit breaker or half-day), the market will resolve according to the official closing price of the abbreviated session. If no such official closing price is published, the market will resolve according to the next trading day on which an official closing price is published, treating that as the first day of trading for purposes of this market.

No IPO by December 31, 2026

1T–1.25T

750B–1T

OpenAI IPO

OpenAI IPO Closing Market Cap

This market will resolve to "Yes" if OpenAI achieves a public valuation of $1 trillion USD or more, or raises a private funding round that values the company at $1 trillion or more between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

To qualify, the valuation must be explicitly confirmed by OpenAI or an overwhelming consensus of credible reporting. 

The resolution source will be OpenAI’s official communications, however a consensus of credible reporting may also be used.

OpenAI $1T+ valuation

OpenAI $1T+ valuation in 2026?

This market will resolve to the listed company with the larger private market valuation, as measured by the final NPM Price reported by Nasdaq Private Market, LLC (NPM), for December 31, 2026.

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for the specified date by 1:00 PM ET on January 1, 2027, this market may remain open until 11:59 PM ET on January 4, 2027. If no further data is released by that time, the market will resolve according to the latest available data.

If NPM ceases publishing relevant data prior to the specified date, this market will resolve based on the NPM data published prior to the cessation of coverage, as well as applicable public market capitalization data following an IPO or direct listing.

If a company completes an IPO or direct listing before the specified date, this market will resolve according to the company's public market capitalization at the market close of the specified date or the most recent trading day.

Public market capitalization will be determined using the final official regular-hours trading price published for the company's primary listed common equity on its primary exchange for the specified date or the most recent trading day, multiplied by the company's total outstanding common shares at the relevant time.

If a listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If a listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only the NPM valuation and applicable public market capitalization achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

The resolution source for this market is NPM data published here (https://fe.secondmarket.com/companies/company-3e197763-4ff8-4d8c-bd1f-cc2792937757/data?return_url=https://polymarket.com/finance/privates) and here (https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data?return_url=https://polymarket.com/finance/privates). The resolution source for any period following an IPO, direct listing, or relevant corporate action, will be official exchange trading data and publicly reported share counts.

If Anthropic's valuation is equal to OpenAI's valuation at resolution, this market will resolve to 50-50.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

Anthropic vs OpenAI

Anthropic vs OpenAI - higher valuation on December 31?

This market will resolve to “SpaceX” if the official closing price for SpaceX’s market capitalization on its first trading day is above the official closing price for OpenAI’s market capitalization on its first trading day.

This market will resolve to “OpenAI” if the official closing price for OpenAI’s market capitalization on its first trading day is above the official closing price for SpaceX’s market capitalization on its first trading day.

This market will resolve to the company that completes an Initial Public Offering (IPO) by December 31, 2027, 11:59 PM ET, if the other company does not complete an IPO within the market timeframe. This market will resolve to the IPOed company as soon as it becomes impossible for the other company to complete an IPO within the market timeframe, including due to acquisition, merger, or absorption by an entity that is already publicly traded.

This market will resolve 50-50 if:
- Neither IPO occurs by December 31, 2027, 11:59 PM ET.
- Both SpaceX and OpenAI complete an IPO within this market's timeframe, and their IPO closing market capitalizations are exactly equal.
- Both companies become unable to complete an IPO, including due to acquisition, merger, or absorption by an entity that is already publicly traded.

Market capitalization is defined as the total number of outstanding shares multiplied by the closing share price on the first trading day.

Resolution will be based on the primary exchange’s official listing page. In the event that the relevant figure is not displayed, another reliable source will be used.

In the event of an interruption in the course of the normal trading session on the respective companies’ first day of trading (e.g., a circuit breaker or half-day), the market will resolve according to the official closing price of the abbreviated session. If no such official closing price is published, the market will resolve according to the next trading day on which an official closing price is published, treating that as the first day of trading.

SpaceX or OpenAI higher IPO Market Cap?

This market will resolve to “Yes” if the official closing price for OpenAI's market capitalization on its first trading day is above the listed value. Otherwise, it will resolve to “No”.

If no IPO occurs by December 31, 2027, 11:59 PM ET, this market will resolve to “No”.

Market capitalization is defined as the total number of outstanding shares multiplied by the closing share price on the first trading day.

Resolution will be based on the primary exchange’s official listing page. In the event that the relevant figure is not displayed, another reliable source will be used.

In the event of an interruption in the course of the normal trading session on OpenAI's first day of trading (e.g., a circuit breaker or half-day), the market will resolve according to the official closing price of the abbreviated session. If no such official closing price is published, the market will resolve according to the next trading day on which an official closing price is published, treating that as the first day of trading.

$800B

$1.2T

OpenAI IPO closing market cap above ___ ?

This market will resolve to the number of calendar days on which OpenAI's ChatGPT experiences any incident classified as 'Partial/Full Outage' as of the time it is marked as “Resolved” during the specified month (ET).

Only incidents listing ChatGPT under 'Affected components' will be considered. Incidents labeled as affecting 'APIs,' or 'Sora,' but not ChatGPT, will have no bearing on the resolution of this market.

Classifications of an incident while it is ongoing will have no bearing on the resolution of this market. Only classifications of events that are resolved will be considered.

Qualifying incidents include outages and other issues classified as 'Partial/Full Outage' when they are resolved, during this market's above-specified timeframe. 

Revisions that upgrade an incident’s impact classification to 'Partial/Full Outage' will qualify if the incident was resolved and the revision is published within this market’s timeframe.

This market will resolve at 12:00 PM ET on the day following the specified timeframe, provided no incident that began during the specified timeframe is ongoing, and all relevant data has been released. If either condition is not met, the market will remain open until the incident is marked as “Resolved” and all relevant data has been released. If all relevant data has not been released by the end of the seventh day after the specified timeframe, this market will resolve based on the data available at that time.

The primary resolution source for this market will be official system status information published by OpenAI on status.openai.com; however, a consensus of credible reporting may also be used.

ChatGPT Outage Days

# of ChatGPT Outage Days in July 2026?

This market will resolve to the listed company with the third largest private market valuation on July 31, 2026.

NPM Prices are published for trading days only and are updated once daily at 1:00 PM ET on the following calendar day.

If NPM has not published relevant data for the specified date by 1:00 PM ET on August 1, 2026, this market may remain open until 11:59 PM ET on August 4, 2026. If no further data is released by that time, the market will resolve according to the data available.

If NPM ceases publishing relevant data prior to the specified date, this market will resolve based on the NPM data published prior to the cessation of coverage, as well as applicable public market capitalization data following an IPO or direct listing.

If a company completes an IPO or direct listing before the specified date, this market will resolve based on its final NPM valuation published between market creation and the IPO or direct listing date, as this market is based on private market valuations only.

If a listed company merges with or acquires another entity and remains the parent company, no change to resolution methodology applies.

If a listed company is acquired, merges into another entity and is no longer the surviving parent company, or otherwise ceases to exist as an independent entity prior to the end of the period, only the NPM valuation achieved prior to completion of the transaction will be considered for resolution. No transaction, acquisition, or merger consideration will be considered for resolution.

If two or more companies are tied for the third highest valuation, the markets will resolve in favor of the company that achieved that valuation first. If the valuations were achieved on the same day, the market will resolve in favor of the company whose listed name comes first alphabetically.

Revisions to previously published NPM data made after their initial release will not be considered, unless made to correct clearly erroneous data.

The resolution sources for this market are:
https://fe.secondmarket.com/companies/company-c62b8140-fdeb-428d-a9a6-d04eb3b24b49/data
https://fe.secondmarket.com/companies/company-3e197763-4ff8-4d8c-bd1f-cc2792937757/data
https://fe.secondmarket.com/companies/company-5e0e75a3-96d6-4893-8f23-9d9bac0ec1db/data
https://fe.secondmarket.com/companies/company-53787f17-a704-47a9-895a-cb54833bdb1f/data
https://fe.secondmarket.com/companies/company-625e5f47-7ff7-45c4-be95-0305665164bd/data
https://fe.secondmarket.com/companies/company-ab5413cb-1c83-497e-b03e-2ed7ca70117d/data
https://fe.secondmarket.com/companies/company-86eda4f2-01af-4275-9c70-0ff3c347c62b/data
https://fe.secondmarket.com/companies/company-782c0a32-4727-4097-a40b-9a2602f243e7/data
https://fe.secondmarket.com/companies/company-30839e0b-2730-4495-839f-1bf638fa9cca/data
https://fe.secondmarket.com/companies/company-802a7f97-3625-4614-a13d-d999cf139330/data
https://fe.secondmarket.com/companies/company-6edded11-6786-4392-9695-3cce6fda0de0/data.

Databricks

Anduril

3rd largest private company end of July?

On June 16, 2026, rumors regarding OpenAI's next-generation audio model named GPT-Bidi-1 surfaced. You can read more about that here: https://www.testingcatalog.com/openai-prepares-major-chatgpt-voice-upgrade-with-gpt-bidi-1/.

This market will resolve to "Yes" if OpenAI makes a qualifying GPT “Bidi” or “Bdi” next-generation audio/voice model for ChatGPT available to the general public by the specified date (ET). Otherwise, this market will resolve to “No”.

Any GPT model whose official name includes “Bidi” or “Bdi” will qualify. A differently named OpenAI voice/audio model may also qualify if a consensus of credible reporting identifies it as the rumored model referenced above. Other GPT releases will not qualify.

A qualifying model must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be either clearly defined and publicly announced by OpenAI as being accessible to the general public or otherwise made publicly accessible and explicitly labeled within the company's official website. Labeling errors, placeholder text, or version names displayed on the website that do not correspond to a model that is actually accessible to the general public will not qualify.

The primary resolution source for this market will be official information from OpenAI; however, a consensus of credible reporting will also be used.

GPT-Bidi-1 released by...?

This market will resolve to “Yes” if credible reporting confirms that any entity enters into an agreement to acquire OpenAI (or the nonprofit that controls OpenAI) by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

Mergers where OpenAI is subsumed by another entity will count toward a "Yes" resolution.

An announced agreement between OpenAI and an acquiring entity will qualify for a “Yes” resolution, regardless of whether the acquisition is ultimately completed.

The primary resolution source for this market is official information from Sam Altman and/or OpenAI however a consensus of credible reporting will also be used.

OpenAI Acquired

OpenAI acquired before 2027?

This market will resolve according to the listed entity, which is the first to reach an Arena Score of 1550+ on the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) by December 31, 2026, 11:59 PM ET. 

Results from the "Text Arena" section on the leaderboard/text tab of https://lmarena.ai/ with the style control unchecked (https://arena.ai/leaderboard/text/overall-no-style-control) will be used to resolve this market.

If no company's model reaches 1550+ Arena Score by the specified time, this market will resolve to "None in 2026".

If the first model to reach a 1550+ Arena Score belongs to any company other than the listed ones, this market will be resolved to "Other".

The resolution source for this market is the Chatbot Arena LLM Leaderboard found at https://lmarena.ai/. If this resolution source becomes unavailable, the market will remain open until it is accessible again. If it becomes permanently unavailable, resolution will be based on another credible source.

None in 2026

Which company's AI will first hit 1550 on Chatbot Arena in 2026?

This market will resolve to "Yes" if a bill that includes at least one of the following provisions is signed into federal law in the United States  by December 31, 2026, 11:59 PM ET. 

- Prohibition on Creation or Release: Forbids the creation or release of specific AI systems or models.

- Training Restrictions: Sets limits on how AI systems can be trained, such as restricting access to previously available training data or imposing a maximum limit on the number of parameters used for training.

- Usage Restrictions:  Prevents AI systems from being used in certain applications, such as interacting with customers, interfacing with other applications, or performing actions on the web.

- Human-in-the-Loop Requirements: Requires AI systems to include mechanisms ensuring human oversight or involvement in their operation.

Otherwise this market will resolve to "No". 

The resolution source will be official U.S. federal government (e.g., Congress.gov) however a consensus of credible reporting may also be used. 