This market will resolve according to the exact amount of cuts of 25 basis points in 2026 by the Fed (including any cuts made during the December meeting).

Emergency rate cuts outside of scheduled FOMC meetings will also count toward the total number of cuts in 2026. This market will remain open until December 31, 2026, 11:59 PM ET, to account for any such emergency actions.

For example, if the Fed cuts rates by 50 bps after a meeting, it would be considered 2 cuts (of 25 bps each).

This market will resolve early to "No" if the specified number of cuts becomes impossible — i.e., if more cuts have already occurred than the strike in question.

Note that cuts between 1–24 bps (inclusive) will also be considered 1 rate cut.

The resolution source for this market will be FOMC statements after meetings scheduled in 2026 according to the official calendar: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm. The level and change of the target federal funds rate is also published at the official website of the Federal Reserve at https://www.federalreserve.gov/monetarypolicy/openmarket.htm.

0 (0 bps)

1 (25 bps)

2 (50 bps)

How many Fed rate cuts in 2026?

This market will resolve to the largest company in the world by market cap on June 30, 2026, as of market close.

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

NVIDIA

Alphabet

Apple

Largest Company

Largest Company end of June?

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 to "Yes" if OpenAI completes an Initial Public Offering (IPO) by the listed date ET, as confirmed by official company announcements and credible news sources. Otherwise, this market will resolve to "No".

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

If OpenAI is acquired by another company that is already public, this market will immediately resolve to "No."

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

December 31, 2026

September 30, 2026

August 31, 2026

OpenAI IPO by...?

This market will resolve based on SpaceX's market capitalization at the closing price on the last trading day of the calendar month in which SpaceX completes its Initial Public Offering (IPO).

The IPO refers to the first sale of stock by SpaceX to the public on any recognized stock exchange. If no SpaceX IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to "No IPO before 2028".

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 last trading day of the calendar month in which SpaceX completes its IPO.

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 SpaceX’s last trading day of the calendar month in which SpaceX completes its IPO (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 last trading day of the calendar month in which SpaceX completes its IPO.

$2.0T-$2.5T

$1.5T-$2.0T

$2.5T-$3.0T

SpaceX Closing Market Cap End of IPO Month

On January 16, Elon Musk posted that buying Ryanair might be a "good idea." You can read more about that here: https://x.com/elonmusk/status/2012172825444913299

This market will resolve to “Yes” if credible reporting confirms that Elon Musk, either personally or through an entity led or majority owned by him, enters into an agreement to buy Ryanair by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

An announced agreement between Elon Musk and Ryanair will qualify for a “Yes” resolution, regardless of whether the acquisition is ultimately completed.

An agreement to merge with a qualifying entity will count toward "Yes" resolution.

The primary resolution source for this market is official information from Elon Musk and Ryanair, however a consensus of credible reporting will also be used.

Will Elon Musk buy Ryanair?

This market will resolve to "Yes" if the Humanity’s Last Exam leaderboard lists any Anthropic Claude model with a score of at least the specified score by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

The resolution source will be the official Humanity’s Last Exam leaderboard https://scale.com/leaderboard/humanitys_last_exam.

45%+

50%+

55%+

Claude score on Humanity’s Last Exam by June 30?

This market will resolve to the largest company in the world by market cap on December 31, 2026, as of market close.

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

Largest Company end of December 2026?

This market will resolve to "Yes" if the listed company completes an Initial Public Offering (IPO) by December 31, 2026, 11:59 PM ET, as confirmed by official company announcements or credible news sources. The IPO refers to the first sale of stock by the listed company to the public on any recognized stock exchange.

If the listed company merges with another entity, is acquired, or ceases to exist before the market resolves, the market will also resolve to "No".

This market will resolve early if the listed company completes an IPO by December 31, 2026, 11:59 PM ET.

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

Discord

Yearly IPOs

IPOs before 2027?

This market will resolve to the second-largest company in the world by market cap on June 30, 2026, as of market close.

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

Second Largest Company

2nd largest company end of June?

This market will resolve to "Yes" if a state-of-the-art (SOTA) AI model achieves a score of 90% or greater on the FrontierMath Exam by December 31, 2026, 11:59 PM ET. Otherwise, the market will resolve to "No".

The primary resolution source will be information from EpochAI however a consensus of credible reporting may also be used. 

AI FrontierMath Score 90+

AI model scores ≥ 90% on FrontierMath Benchmark before 2027?

This market will resolve to “Yes” if Cloudflare experiences any incident classified as Critical (red) as of the time it is marked as “Resolved” by the listed date (ET). Otherwise, this market will resolve to “No”.

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 critical when they are resolved, during this market's above-specified timeframe. 

An incident resolved outside this market’s timeframe will only qualify if ongoing at this market’s resolution time, in which case the market will remain open until that incident is marked as “Resolved,” and resolution will be based on the first impact classification thereafter, regardless of subsequent revisions or corrections.

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

The primary resolution source for this market will be official information from Cloudflare (for example, on cloudflarestatus.com or cloudflarestatus.com/history); however, a consensus of credible reporting may also be used.

August 31

July 31

June 30

Critical Cloudflare Incident

Another critical Cloudflare incident by...?

This market will resolve to "Yes" if the AI industry experiences an industry downturn by the specified date, 11:59 PM ET. Otherwise, this market will resolve to "No".

For the purposes of this market, the AI industry will be considered to have experienced an industry downturn once at least three of the following events have occurred within 90 days of this market's specified timeframe:
- NVIDIA Corporation (NVDA) closing stock price is down 50% from its all-time high.
- iShares PHLX Semiconductor ETF (SOXX) closing stock price is down 40% from its all-time high.
- OpenAI, Inc. or Anthropic PBC declares bankruptcy.
- OpenAI, Inc. is acquired.
- H100 rental price falls to $1.00 or lower for five consecutive days, as shown on the SiliconData Silicon Index at:
https://www.silicondata.com/products/silicon-index.
- Major AI Hardware Supplier Collapse: Taiwan Semiconductor Manufacturing Company Limited (TSM), ASML Holding N.V. (ASML), Broadcom Inc. (AVGO), Arista Networks, Inc. (ANET), or Super Micro Computer, Inc. (SMCI), closing stock price is down 50% from its all-time high.

This market may resolve immediately once three conditions have been met within 90 days of the specified timeframe.

This market will not resolve to "Yes" until three conditions have been met, regardless of reporting of an industry downturn or similar claims.

The primary resolution source will be official information from the respective companies and listing exchanges; however, a consensus of credible reporting will also be used.

December 31, 2025

March 31, 2026

AI bubble burst by...?

This market will resolve to "Yes" if the listed company has the highest arena score on the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) for any amount of time by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

Results from the "Arena Score" section on the Leaderboard tab of https://lmarena.ai/ with the style control unchecked will be used to resolve this market.

If a listed model ties for #1 Arena score, it will suffice to resolve this market to "Yes."

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.


Companies with #1 AI

Which companies will have a #1 AI model by June 30?

This market will resolve to “Yes” if either of the following conditions is met:

1.  The seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 for two consecutive quarters between Q2 2025 and Q4 2026 (inclusive), as reported by the Bureau of Economic Analysis (BEA). 

2.  The National Bureau of Economic Research (NBER) publicly announces that a recession has occurred in the United States, at any point during 2025 or 2026, with the announcement made by the time the BEA releases the advance estimate for Q4 2026.

Otherwise, this market will resolve to "No". 

Note that advance estimates will be considered. For example, if upon release, the advance estimate for Q3 2025 was negative, and the Q2 2025's most recent, up-to-date estimate was also negative, this market would resolve to "Yes". If on December 31, 2026 the latest estimate for quarterly GDP in Q3 2025 was negative, this market will stay open until the Advance estimate of Q4 2026 is published, at which point it will resolve to "Yes" if Q4 2026 was negative or if the NBER declares a recession by then.

The resolution source will be the official announcements from the NBER and the BEA’s estimate of seasonally adjusted annualized percent change in quarterly US real GDP from previous quarters as released by the Bureau of Economic Analysis (BEA), https://www.bea.gov/data/gdp/gross-domestic-product

US recession by end of 2026?

This market will resolve according to the name ranked #1 on the Bloomberg Billionaires Index on December 31, 2026, 5:30 PM ET.

The primary resolution source for this market will be the Bloomberg Billionaires Index (https://www.bloomberg.com/billionaires/). If the data for the specified date is not released by December 31, 2026, 11:59 PM ET, the Forbes Real-Time Billionaires List will be used (https://www.forbes.com/real-time-billionaires/#6aa3f0213d78). If neither source provides the specified date's data by January 2, 2027, 11:59 PM ET, this market will resolve according to the latest data point available on the Bloomberg Billionaires Index.

Elon Musk

Warren Buffett

Jensen Huang

Richest person

Richest person on December 31, 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, 2027, 11:59 PM ET, the market will resolve to "No IPO by December 31, 2027".

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.

1.5T+

750B–1T

1.25T–1.5T

OpenAI IPO

OpenAI IPO Closing Market Cap

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 credible reporting confirms that any entity enters into an agreement to acquire the listed company by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

Mergers where the listed company is subsumed by another entity will count toward a "Yes" resolution.

An announced agreement between the listed company 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 the listed company and/or its leadership; however, a consensus of credible reporting will also be used.

Cursor

MGM Resorts

Pizza Hut

Which companies will be acquired before 2027?

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 “Yes” if OpenAI completes an initial public offering (IPO) valued at $1 trillion USD or higher at the time of the IPO by December 31, 2026, 11:59 PM ET. Otherwise, it will resolve to “No.”

An “initial public offering (IPO)” refers to the first sale of OpenAI’s equity securities to the public through a regulated stock exchange.

OpenAI will be considered to have achieved a $1 trillion valuation if the market capitalization implied by the IPO offering price multiplied by the total number of outstanding shares equals or exceeds $1 trillion USD.

Announcements, filings, or planned IPOs that do not result in public trading by that time will not qualify. Private funding rounds, secondary share sales, or employee-share transactions will not be considered. A direct listing or merger via SPAC will qualify only if it results in OpenAI’s common shares becoming publicly traded for the first time on a major exchange.

If OpenAI’s IPO is priced before the resolution deadline but public trading has not yet commenced, the market may remain open for up to 30 calendar days to determine whether the IPO is completed.

If OpenAI is acquired, dissolved, or merged into another entity before an IPO occurs, this market will resolve to “No.” In the event of a restructuring, the market will resolve based on the entity legally recognized as OpenAI’s successor will 

The resolution source will be a consensus for credible reporting.

OpenAI $1t+ IPO before 2027?

This market will resolve to "Yes" if any model owned by a Chinese company has the highest arena score on the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) by June 30, 2026, at 11:59 PM ET. Otherwise, this market will resolve to "No."

If a Chinese AI model ties for #1 Arena score, it will suffice to resolve this market to "Yes."

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.

Chinese AI #1

Will a Chinese AI model become #1 by June 30? 

This market will resolve to "Yes" if Polymarket has at least the specified daily mindshare, as shown on the Kaito Information Markets Arena page (https://kaito.ai/mindshare-arena/infomarkets) at any point between market creation and June 30, 2026 ET. Otherwise, this market will resolve to "No".

Only finalized daily results from the Polymarket mindshare percentage shown on the Kaito Info Markets page at https://kaito.ai/mindshare-arena/infomarkets, specifically the daily values for Polymarket under 'Historical Data', will be used to resolve this market. Values will be considered final once the value for the subsequent day has been released.

The resolution source for this market is the Kaito Info Markets page found at https://kaito.ai/mindshare-arena/infomarkets. If this resolution source is unavailable at check time, this market will remain open until the Kaito Info Markets page 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 the latest available data.

Note: the resolution source for this market will be the Kaito Info Markets page (https://kaito.ai/mindshare-arena/infomarkets), which reports the platform’s mindshare as a percentage to two decimal places (e.g., 66.56%). Thus, this is the level of precision that will be used when resolving the market.

How high will Polymarket's mindshare go by June 30?

This market will resolve to “Yes” if the listed bank fails between market creation and June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No.”

For the purposes of this market, the listed bank will be considered to have “failed” if any of the following occurs under the bank’s applicable legal or regulatory framework, within the listed date range:

- The listed bank’s primary banking regulator formally declares the institution insolvent or non-viable, or withdraws or revokes the bank’s license or authorization, and such determination initiates or directly results in resolution, liquidation, wind-down, or transfer actions.
- The listed bank enters a court-ordered liquidation, statutory resolution regime, or regulator-mandated wind-down, including the use of resolution tools such as bail-ins, forced asset transfers, or the establishment of a bridge bank.
- A government or resolution authority intervenes in a manner that wipes out or subordinates existing equity of the listed bank and transfers effective control of the bank to the state or a designated resolution authority, with continued operations dependent on official intervention.
- The listed bank publicly defaults on a payment obligation, including derivatives margin, repo, or physical commodity delivery, and such default is formally acknowledged by the bank’s primary regulator or resolution authority and directly results in the initiation of resolution, liquidation, license withdrawal, or regulator-mandated transfer of the bank.
- The listed bank is subject to a compulsory merger, acquisition, or transfer of all or substantially all of its assets and liabilities ordered or directed by its primary banking regulator or resolution authority due to the bank’s financial condition or to prevent failure, regardless of whether a formal insolvency declaration or immediate equity wipeout is publicly announced at the time of transfer.

If there is a potential failure of the listed bank within this market’s date range and a qualifying regulatory or court action has occurred but has not yet been fully published by the relevant authority, this market may remain open until September 30, 2026, 11:59 PM ET to allow for confirmation. If no qualifying failure is confirmed by that date, this market will resolve to “No.”

The primary resolution source for this market will be official statements, filings, or actions by the listed bank’s primary banking regulator or resolution authority; however, a consensus of credible reporting may also be used.

This market will resolve to “Yes” if the listed bank fails between market creation and June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No.”

For the purposes of this market, the listed bank will be considered to have “failed” if, within the listed date range, any of the following occurs under the bank’s applicable legal or regulatory framework:

- The listed bank’s primary banking regulator formally declares the institution insolvent or non-viable, or withdraws or revokes the bank’s license or authorization, and such determination initiates or directly results in resolution, liquidation, wind-down, or transfer actions.
- The listed bank enters a court-ordered liquidation, statutory resolution regime, or regulator-mandated wind-down, including the use of resolution tools such as bail-ins, forced asset transfers, or the establishment of a bridge bank.
- A government or resolution authority intervenes in a manner that wipes out or subordinates existing equity of the listed bank and transfers effective control of the bank to the state or a designated resolution authority, with continued operations dependent on official intervention.
- The listed bank publicly defaults on a payment obligation, including derivatives margin, repo, or physical commodity delivery, and such default is formally acknowledged by the bank’s primary regulator or resolution authority and directly results in the initiation of resolution, liquidation, license withdrawal, or regulator-mandated transfer of the bank.
- The listed bank is subject to a compulsory merger, acquisition, or transfer of all or substantially all of its assets and liabilities ordered or directed by its primary banking regulator or resolution authority due to the bank’s financial condition or to prevent failure, regardless of whether a formal insolvency declaration or immediate equity wipeout is publicly announced at the time of transfer.

If there is a potential failure of the listed bank within this market’s date range and a qualifying regulatory or court action has occurred but has not yet been fully published by the relevant authority, this market may remain open  to allow for confirmation. If no qualifying failure is confirmed by that date, this market will resolve to “No.”

The primary resolution source for this market will be official statements, filings, or actions by the listed bank’s primary banking regulator or resolution authority; however, a consensus of credible reporting may also be used.

Business