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 June 30, 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.

Anthropic

Google

OpenAI

Best AI Company

Which company has best AI model 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

Largest IPO by market cap in 2026?

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 31

June 30

June 15

GPT-5.6 released by...?

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 according to the company that owns the model with the highest arena rank based on the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) when the table under the "Leaderboard" tab is checked on June 30, 2026, 12:00 PM ET.

Results from the "Rank" column under the "Text Arena | Overall" Leaderboard tab at https://lmarena.ai/leaderboard/text with style control on 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 resolves based on the first check after it becomes available. If it becomes permanently unavailable, this market will resolve based on another resolution source.

Top AI Company (Style on)

Which company has top AI model end of June? (Style Control On)

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 according to the calendar 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 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.

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.

June 8–June 14

June 15–June 21

Not released by June 28

When will GPT-5.6 be released?

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 June 30, 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 July 1, 2026, this market may remain open until 11:59 PM ET on July 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?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 June 30, 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 July 1, 2026, this market may remain open until 11:59 PM ET on July 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

↑$875B

Will OpenAI's valuation hit __ by June 30?

This market will resolve to “Yes” if the U.S. District Court in the Northern District of California sides with Elon Musk in Elon Musk v. Sam Altman et al by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

If the case reaches a determination without settlement, the court will be considered to side with Musk based on the following criteria (in order of priority):

1. If Elon Musk receives a larger net monetary award than Altman et al (after offsetting any awards against the parties), the court will have sided with Musk. Compensatory damages, punitive damages, restitution, and statutory damages are included in monetary awards. Monetary awards do not include Attorney’s fees or other costs which are excluded from the monetary recovery calculation.

2. If there is no net monetary advantage for either party, the court will have sided with Musk if Musk prevails on claims seeking the largest amount of relief, in dollars, in the original pleadings of the case, as compared to Altman et al. If the relevant relief amounts are equivalent or can’t be determined, the court will have sided with Musk if Musk prevails on a greater number of primary causes of action than Altman et al. Procedural claims, discovery sanctions, and attorney's fee requests will not be considered primary causes of action.

3. If the case terminates without substantive judgment, the court will have sided with Musk if Altman et al voluntarily dismiss all claims against Elon Musk with prejudice. All other scenarios of termination without substantive judgment, including if there are no claims against Musk, will result in the court not siding with either party and will resolve this market to “No”.

If Elon Musk and Altman et al settle this case with a disclosed net payment to Elon Musk, the court will have sided with Musk. If Elon Musk and Altman et al settle this case with a disclosed net payment to Altman et al, this market will resolve to “No”. If Elon Musk and Altman et al settle this case with mutual releases and no disclosed payment direction, or if settlement terms are sealed and a consensus of credible reporting does not indicate payment direction within 7 days of the settlement announcement, the court will not have sided with either party and this market will resolve to “No”.

Additional notes:

If the court issues a default judgment in favor of Elon Musk, this market will use the listed criteria above for resolution. If the court issues a default judgment against Elon Musk, this market will resolve to “No”.

If the court issues a full summary judgment in favor of Elon Musk, the court will have sided with Musk.

A partial summary judgment will apply to resolved claims only, and remaining claims will proceed under the above listed resolution criteria.

A summary judgment on liability only will not constitute a court siding with either party until the damages are determined.

Mistrials with prejudice will be considered to be case termination and will be evaluated according to criteria 3 above.

Mistrials without prejudice, hung juries, or mistrials due to procedural errors will not constitute the court siding with either party. If retrial is ordered and occurs before December 31, 2026, 11:59 PM ET, resolution of this market will be based on the result of that retrial.

Any sua sponte judicial dismissal will be treated according to whether the dismissal is with or without prejudice. If unspecified, it will be treated as without prejudice.

This market applies only to trial-level case resolutions and does not include any appeals.

Only claims directly involving Elon Musk will be considered; third-party claims, interpleader actions, and claims between other parties will not be considered.

Procedural victories will not be considered as part of the court’s decision unless accompanied by substantive relief on the merits of the case.

Injunctive relief will only count as the court’s decision if it provides the primary relief sought in the original pleadings.

Case consolidation with other proceedings will not affect this market’s outcome unless the consolidated outcome directly resolves the dispute between Elon Musk and Altman et al.

If there are multiple defendants, the court must side with Elon Musk relative to the combination of all opposing parties. Joint and several liability awards will be attributed to Elon Musk based on Musk’s individual liability percentage. Cross-claims between co-defendants will not affect the court’s decision relative to Elon Musk.

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

Will Elon Musk win his case against Sam Altman?

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.

1.5T+

No IPO by December 31, 2026

1.25T–1.5T

OpenAI IPO

OpenAI IPO Closing Market Cap

This market will resolve to "Yes" if OpenAI files a Form S-1 or F-1 registration statement with the U.S. Securities and Exchange Commission by the listed date 11:59 PM ET. Otherwise, this market will resolve to "No".

A qualifying filing includes either (a) a publicly available filing on the SEC's EDGAR database, or (b) a confidential submission that is explicitly confirmed by OpenAI or reported as completed by a consensus of credible reporting.

A filing must be confirmed or announced as having been completed within the market's timeframe to qualify. Confirmations, announcements, or reporting that occur after the end date will not be considered, even if the filing itself occurred within the timeframe.

The primary resolution source will be official filings from the SEC; however, a consensus of credible reporting may also be used.

June 5

May 22

May 26

OpenAI files IPO by...?

This market will resolve according to the company that owns the model with the second-highest arena rank based on the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) when the table under the "Leaderboard" tab is checked on June 30, 2026, 12:00 PM ET.

Results from the "Rank" 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.

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 second 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.

Second Best AI Company

Which company has second best AI model end of June?

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

Glasses

Clip-on device for clothing

What kind of product will OpenAI announce in 2026?

This market will resolve to “Yes” if OpenAI launches a social network by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

A social network refers to a platform or service developed by OpenAI that is primarily intended for users to create profiles or identities and publicly share, view, or interact with content or other users in a feed, network, or similar format. 

Tools or features whose primary purpose is not to function as a social network, even if they allow limited user interaction, such as comments, reactions, or sharing, will not qualify unless they are clearly released and presented by OpenAI as a social network, social platform, or similar.

A qualifying social network must be 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.

Social networks may qualify regardless of whether they are launched as a standalone platform or as social-network functionality integrated into another OpenAI product, provided that OpenAI clearly presents the product or feature as a social network or social platform, or similar.

Messaging or messenger-style applications solely designed for private one-to-one or small-group communication will not qualify for this market.

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

Will OpenAI release a social network in 2026?

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

May 31

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".

1470+

1450+

1480+

OpenAI Debut

Next OpenAI Model: Arena Debut?

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 June 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 “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 the Humanity’s Last Exam leaderboard lists any OpenAI GPT 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.

50%+

35%+

40%+

OpenAI GPT score on Humanity’s Last Exam by June 30?

This market will resolve according to the public ticker symbol used by OpenAI in an IPO (Initial Public Offering) by December 31, 2027, 11:59 PM ET.

An official announcement from OpenAI that it will IPO under a specific ticker symbol will be sufficient to resolve this market.

If a ticker used by OpenAI in a qualifying IPO is a variant of a ticker symbol listed in this market group with additional letters to denote a specific class of shares, it will be considered to be that ticker (e.g. if OpenAI uses a ticker symbol of $OPAI.A or $OPAIA, this market will resolve to $OPAI).

If OpenAI announces an IPO with multiple tickers that are not considered the same ticker under the previous rule (i.e. $OPAI.A and $OPAI.B would be considered the same ticker), this market will remain open until OpenAI's first day of public trading and will resolve according to the ticker symbolizing the security class with the greatest market capitalization. Market capitalization is calculated as the number of shares outstanding multiplied by the closing share price on the first trading day. If this also results in a tie, this market will resolve according to the ticker symbol that comes first in alphabetical order.

If OpenAI IPOs with a non-listed ticker, or does not IPO or officially announce an IPO and ticker symbol by December 31, 2027, 11:59 PM ET, this market will resolve to "Other."

The primary resolution source for this market will be official information from OpenAI and the primary exchange's official listing page. In the event that the relevant figure is not displayed, another reliable source will be used.

Note: 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 use the official closing price of the abbreviated session. If no such official closing price is published, the market will use the closing price on the next trading day for which an official closing price is published, treating that as the first day of trading for purposes of this market.

$OAI

$OPAI

$LLM

What will OpenAI's public ticker be?

This market will resolve according to the bank that serves as the lead underwriter in the initial public offering of OpenAI.

If no IPO occurs by December 31, 2027, 11:59 PM ET, or OpenAI completes an initial public offering without a designated lead underwriter, this market will resolve to “Other.”

If multiple banks are identified as lead underwriters, this market will resolve according to the primary lead underwriter. If the hierarchy between them is unclear, this market will resolve once it is conclusively evident which bank is the primary lead underwriter, for example, through the order in which the banks are listed in the underwriting section of OpenAI's final initial public offering prospectus, once released.

The primary resolution source for this market will be official disclosures from OpenAI. A consensus of credible reporting may also be used.

Goldman Sachs

Morgan Stanley

Lead Bank in OpenAI's IPO?

This market will resolve to "OpenAI + Anthropic" if the combined private market valuation of Anthropic and OpenAI is larger than Meta's market capitalization on June 30, 2026, or to "Meta" if Meta's market capitalization exceeds that combined valuation.

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 July 1, 2026, this market may remain open until 11:59 PM ET on July 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 private company completes an IPO or direct listing prior to 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-hour 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 the 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 last 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-30839e0b-2730-4495-839f-1bf638fa9cca/data?return_url=https://polymarket.com/finance/privates) and here (https://fe.secondmarket.com/companies/company-3e197763-4ff8-4d8c-bd1f-cc2792937757/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 and OpenAI's combined valuation is equal to Meta's public market capitalization at resolution, each outcome will resolve to 0.5.

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

Anthropic + OpenAI vs Meta - higher valuation on June 30?

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 ___ ?

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