Will Perplexity AI have the highest IPO Market Cap 2026?
Current price
0.05¢
±0¢ · 24h
Implied probability 0.05%
$132.2K total volume · YES/NO
Low gotcha risk
Gotcha risk — resolution-rule assessment
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The rules provide precise criteria for calculating market capitalization, defined strictly as total outstanding shares multiplied by the official first-day closing share price converted to U.S. dollars. Resolution relies on primary exchange listing pages with specified fallback hierarchies and official Federal Reserve exchange rates for non-dollar listings. Explicit edge-case mechanics are defined for trading interruptions, alphabetical tie-breaking, and early negative resolution if a company is acquired or becomes ineligible to complete an IPO before year-end.
- Wording ambiguity
- Low
- Source discretion
- Low
- Timing risk
- Low
- Exceptional clauses
- Med
Liquidity
Thin book — large orders will move this price. At the daily check: a spread of 5¢ or more (or none quoted), or less than $2K within 5¢ of the mid.
Why it moved
No big moves in the last 7 days.
Resolution rules
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.
Rules history
Rules history is not displayed yet.
Market explained
This market measures whether Perplexity AI will achieve the highest first-day closing market capitalization among all companies completing an Initial Public Offering in 2026.
How it resolves
The market resolves to Yes if Perplexity AI completes an IPO between January 1 and December 31, 2026, at 11:59 PM ET and records the highest market capitalization in U.S. dollars on its first trading day, with ties decided alphabetically. Market capitalization equals total outstanding shares multiplied by the first-day official closing price. The market resolves to No if another company records a higher first-day closing market capitalization, or if Perplexity AI fails to complete an IPO in 2026 or becomes unable to do so due to merger or acquisition. Resolution is determined using the primary exchange's official listing page, with currency conversion via the Federal Reserve Board's H.10 rate if necessary, or another reliable source if unavailable.
Key dates
- IPO eligibility period begins: — Earliest date for an IPO to qualify.
- IPO eligibility period ends: — Deadline is 11:59 PM ET.
Resolution source
Primary exchange’s official listing page
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