This market will resolve to "Yes" if the President of the United States, any member of the Cabinet of the United States, any member of the Joint Chiefs of Staff, or any US federal agency definitively states that extraterrestrial life or technology exists by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official information from the government of the United States, however a consensus of credible reporting will also be used.

December 31

This market will resolve to "Yes" if the President of the United States, any member of the Cabinet of the United States, any member of the Joint Chiefs of Staff, or any US federal agency definitively states that extraterrestrial life or technology exists by September 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official information from the government of the United States, however a consensus of credible reporting will also be used.

September 30

This market will resolve to "Yes" if the President of the United States, any member of the Cabinet of the United States, any member of the Joint Chiefs of Staff, or any US federal agency definitively states that extraterrestrial life or technology exists by April 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official information from the government of the United States, however a consensus of credible reporting will also be used.

April 30

Will the US confirm that aliens exist by...?

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?

As of market creation, the FDA's expected decision date for the specified application is July 29, 2026.

This market will resolve to "Yes" if the U.S. Food and Drug Administration (FDA) grants full or conditional approval for Outlook Therapeutics's ONS-5010 as a treatment for wet age-related macular degeneration by August 12, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

An approval is defined as:
For new drugs: FDA issuance of an approval letter for a New Drug Application (NDA) or Biologics License Application (BLA)
For already-marketed drugs seeking new indications: FDA approval of a supplemental NDA (sNDA) or supplemental BLA (sBLA) for the specific indication referenced
For generic drugs: FDA approval of an Abbreviated New Drug Application (ANDA)
For biosimilars: FDA approval of a 351(k) application

The following constitute qualifying approvals:
Standard approval (traditional approval based on clinical benefit), Accelerated approval (based on surrogate endpoints), Approval with Risk Evaluation and Mitigation Strategy (REMS), Approval with restricted distribution or indication limitations, except compassionate use/expanded access programs

The following do not constitute qualifying approvals:
Approvable letters that require additional actions before approval
Tentative approvals pending patent or exclusivity expiration
FDA requests for additional information or studies
Extension of Prescription Drug User Fee Amendments dates
Approval for compassionate use or expanded access programs only
Approval only for export or for use outside the United States
Emergency Use Authorization (EUA) without full approval
Complete Response Letters (CRLs) indicating the application cannot be approved in its current form

This market will immediately resolve to "No" if the FDA issues a Complete Response Letter (CRL) or explicitly declines to approve the application. If the drug sponsor withdraws the application before the end of the specified period, the market will resolve to "No" immediately.

If the listed drug is approved before the end of the specified period, the market will resolve to "Yes," regardless of potential Advisory Committee votes against approval or later withdrawal of approval.

Conditional approvals may include post-marketing requirements or commitments and still qualify.

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

FDA Approval

FDA approves Outlook Therapeutics' ONS-5010?

This market will resolve according to the total number of earthquakes with a magnitude of 5.5 or higher that occur anywhere on Earth between June 29, 2026, 12:00 AM ET, and July 5, 2026, 11:59 PM ET.

The resolution source for this market is the United States Geological Survey (USGS) Earthquake Hazards Program, with the minimum magnitude set to 5.5 and the date parameters set to the relevant dates for this market's timeframe (https://earthquake.usgs.gov/earthquakes/search/).

If an earthquake of substantial size has occurred within this market's timeframe but not yet appeared on the resolution source, this market may remain open until July 7, 2026, 11:59 PM ET, or until the earthquake in question otherwise appears on the resolution source. If such an earthquake has not appeared on the resolution source by that date, another credible resolution source will be used.

This market may not resolve until the timeframe of this market has concluded. If a qualifying earthquake has been recorded on the final day, this market may remain open for 24 hours to allow for revisions to the recorded magnitude. After 24 hours, this market will resolve according to the latest provided data.

5.5 Earthquake

How many 5.5 or above earthquakes June 29 - July 5?

As of market creation, the FDA's expected decision date for the specified application is July 23, 2026.

This market will resolve to "Yes" if the U.S. Food and Drug Administration (FDA) grants full or conditional approval for Sanofi's Subcutaneous Sarclisa in combination with approved standard-of-care regimens for the treatment of multiple myeloma across currently approved Sarclisa IV indications by August 6, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

An approval is defined as:
For new drugs: FDA issuance of an approval letter for a New Drug Application (NDA) or Biologics License Application (BLA)
For already-marketed drugs seeking new indications: FDA approval of a supplemental NDA (sNDA) or supplemental BLA (sBLA) for the specific indication referenced
For generic drugs: FDA approval of an Abbreviated New Drug Application (ANDA)
For biosimilars: FDA approval of a 351(k) application

The following constitute qualifying approvals:
Standard approval (traditional approval based on clinical benefit), Accelerated approval (based on surrogate endpoints), Approval with Risk Evaluation and Mitigation Strategy (REMS), Approval with restricted distribution or indication limitations, except compassionate use/expanded access programs

The following do not constitute qualifying approvals:
Approvable letters that require additional actions before approval
Tentative approvals pending patent or exclusivity expiration
FDA requests for additional information or studies
Extension of Prescription Drug User Fee Amendments dates
Approval for compassionate use or expanded access programs only
Approval only for export or for use outside the United States
Emergency Use Authorization (EUA) without full approval
Complete Response Letters (CRLs) indicating the application cannot be approved in its current form

This market will immediately resolve to "No" if the FDA issues a Complete Response Letter (CRL) or explicitly declines to approve the application. If the drug sponsor withdraws the application before the end of the specified period, the market will resolve to "No" immediately.

If the listed drug is approved before the end of the specified period, the market will resolve to "Yes," regardless of potential Advisory Committee votes against approval or later withdrawal of approval.

Conditional approvals may include post-marketing requirements or commitments and still qualify.

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

FDA approves Sanofi's Subcutaneous Sarclisa?

This market will resolve according to the total number of earthquakes with a magnitude of 6.5 or higher that occur anywhere on Earth between June 29, 2026, 12:00 AM ET, and July 5, 2026, 11:59 PM ET.

The resolution source for this market is the United States Geological Survey (USGS) Earthquake Hazards Program (https://earthquake.usgs.gov/earthquakes/browse/significant.php#sigdef).

If an earthquake of substantial size has occurred within this market's timeframe but not yet appeared on the resolution source, this market may remain open until July 7, 2026, 11:59 PM ET, or until the earthquake in question otherwise appears on the resolution source. If such an earthquake has not appeared on the resolution source by that date, another credible resolution source will be used.

This market may not resolve until the timeframe of this market has concluded. If a qualifying earthquake has been recorded on the final day, this market may remain open for 24 hours to allow for revisions to the recorded magnitude. After 24 hours, this market will resolve according to the latest provided data.

6.5 Earthquake Weekly

How many 6.5 or above earthquakes June 29 - July 5?

This market will resolve to "Yes" if a natural meteoroid (bolide) explodes in Earth's atmosphere with a total impact energy greater than or equal to 1 megaton (1000 kilotons) of TNT equivalent between January 1 and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

The object must be classified as a natural meteoroid; events involving artificial objects or reentry vehicles do not qualify.

The primary resolution source will be the NASA JPL Fireball and Bolide Data repository: https://cneos.jpl.nasa.gov/fireballs/. The relevant field for determining impact energy is the “Impact Energy (kt)” column. If this dataset has not been updated to include all relevant dates by February 28, 2027, or if the NASA JPL Fireball and Bolide Data repository becomes permanently unavailable, this market may resolve based on a consensus of credible sources including the European Space Agency (ESA), the International Asteroid Warning Network (IAWN), the U.S. Department of Defense, or credible reporting of a scientific consensus, such as a NASA press release.

1 megaton meteor strike in 2026?

This market will resolve according to the number of tornadoes recorded in the United States during the specified month, based on the monthly count published on the National Centers for Environmental Information U.S. Tornadoes Time Series page (see: https://www.ncei.noaa.gov/access/monitoring/tornadoes/time-series).

Only tornadoes appearing in the final NCEI dataset for that month will count.

As of market creation, the relevant report is scheduled to be released on July 9, 2026, at 5:01 PM GMT+1 or 11:01 AM ET (Release schedule: https://www.ncei.noaa.gov/access/monitoring/dyk/monthly-releases). The market will resolve based on the first relevant tornado count published on the NCEI tornado time-series page after this scheduled release time.

If the value published after this scheduled release time is labeled preliminary, it will still determine resolution, and the market will resolve independently of any subsequent revisions, corrections, or retroactive adjustments. 

The market will not resolve based on any preliminary values published before the scheduled release time.

If no data is published by the scheduled release time, or if the NCEI website is temporarily unavailable, this market will remain open until that data is made available. If the relevant data is not made available by the date of the next scheduled publication ET, this market will resolve based on available data for the most recent prior month. If the NCEI website becomes permanently unavailable, this market will resolve using another credible source.

310+

220–249

<100

Monthly Tornadoes US

How many Tornadoes in the US in June?

The Fields Medal is a prize regarded as the top award in the field of mathematics worldwide. It is awarded to two, three, or four mathematicians under 40 years of age at the International Congress of the International Mathematical Union (IMU), a meeting that takes place every four years. The International Congress of Mathematicians 2026 (ICM 2026) is scheduled to take place from July 23 to July 30, 2026.

This market will resolve according to the winners of the 2026 Fields medal.

If the 2026 Fields medalists are not announced by August 15, 2026, 11:59PM ET, this market will resolve to "Other".

The primary resolution source for this market will be official information from the IMU (https://www.mathunion.org/imu-awards/fields-medal), however other credible reporting may be used.

Hong Wang

Jacob Tsimerman

Yu Deng

Who will win the 2026 Fields Medal?

This market will resolve to "Yes" if the World Health Organization (WHO) declares any disease a pandemic between January 1, 2026 and December 31, 2026 11:59 PM ET. Otherwise, this market will resolve to "No".

The resolution source will be official announcements from the World Health Organization.

New Pandemic

New pandemic in 2026?

As of market creation, the FDA's expected decision date for the specified application is July 30, 2026.

This market will resolve to "Yes" if the U.S. Food and Drug Administration (FDA) grants full or conditional approval for Viatris's low-dose estrogen weekly patch for contraception by August 13, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

An approval is defined as:
For new drugs: FDA issuance of an approval letter for a New Drug Application (NDA) or Biologics License Application (BLA)
For already-marketed drugs seeking new indications: FDA approval of a supplemental NDA (sNDA) or supplemental BLA (sBLA) for the specific indication referenced
For generic drugs: FDA approval of an Abbreviated New Drug Application (ANDA)
For biosimilars: FDA approval of a 351(k) application

The following constitute qualifying approvals:
Standard approval (traditional approval based on clinical benefit), Accelerated approval (based on surrogate endpoints), Approval with Risk Evaluation and Mitigation Strategy (REMS), Approval with restricted distribution or indication limitations, except compassionate use/expanded access programs

The following do not constitute qualifying approvals:
Approvable letters that require additional actions before approval
Tentative approvals pending patent or exclusivity expiration
FDA requests for additional information or studies
Extension of Prescription Drug User Fee Amendments dates
Approval for compassionate use or expanded access programs only
Approval only for export or for use outside the United States
Emergency Use Authorization (EUA) without full approval
Complete Response Letters (CRLs) indicating the application cannot be approved in its current form

This market will immediately resolve to "No" if the FDA issues a Complete Response Letter (CRL) or explicitly declines to approve the application. If the drug sponsor withdraws the application before the end of the specified period, the market will resolve to "No" immediately.

If the listed drug is approved before the end of the specified period, the market will resolve to "Yes," regardless of potential Advisory Committee votes against approval or later withdrawal of approval.

Conditional approvals may include post-marketing requirements or commitments and still qualify.

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

FDA approves Viatris' low-dose estrogen weekly patch?

This market will resolve according to the numerical rank of how hot 2026 is when compared against all other years for which the Global Land-Ocean Temperature Index has data.

Years will be ranked in descending order, starting with the hottest as number 1, the second hottest as number 2, etc.

If 2026 ties with any other year, it will resolve according to the place the year it ties with occupies.

This market will resolve immediately once the specified data becomes available, regardless of whether the figure for the relevant years is later revised.

The primary resolution source for this market will be the figure found in the table titled "Land-Ocean Temperature Index (C)" under the column "No_Smoothing" in the row "2026" (https://data.giss.nasa.gov/gistemp/graphs/graph_data/Global_Mean_Estimates_based_on_Land_and_Ocean_Data/graph.txt). If NASA's "Global Temperature Index" is rendered permanently unavailable, other information from NASA may be used. If no information for 2026 is provided by NASA by March 1, 2027, 11:59 PM ET, this market will resolve based on a consensus of credible reporting.

Where will 2026 rank among the hottest years on record?

This market will resolve to "Yes" if there have been the specified amount or more confirmed cases of Measles (Rubeola) in humans in the territory of the United States of America in 2026 according to the CDC case counter between January 1, 2026, 12:00 AM ET and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

The resolution source for this market will be the CDC Measles (Rubeola) counter (see: https://www.cdc.gov/measles/data-research/index.html) at the resolution time. If the counter becomes unavailable, another credible source will be used.

Note: Only cases reported by the CDC Measles (Rubeola) counter will qualify, regardless of reports from U.S. State agencies or other sources.

↑3k

↑3.5k

↑4k

measles

Measles cases in U.S. in 2026?

This market will resolve to "Yes" if there have been the specified amount or more confirmed cases of Measles (Rubeola) in humans in the territory of the United States of America in 2026, according to the CDC case counter by July 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

The resolution source for this market will be the CDC Measles (Rubeola) counter 'Total Cases' in 2026 (see: https://www.cdc.gov/measles/data-research/index.html) at the resolution time. If the counter becomes unavailable, another credible source will be used.

Note: Only cases reported by the CDC Measles (Rubeola) counter will qualify, regardless of reports from U.S. State agencies or other sources.

2200

2300

2400

Measles cases in U.S. by July 31?

This market will resolve according to the cumulative influenza-associated hospitalization rate per 100,000 population for the United States, as reported for the specified week.

If the recorded data falls exactly between two brackets, this market will resolve to the higher bracket.

The resolution source for this market will be CDC FluView / FluSurv-NET (see: https://www.cdc.gov/fluview/index.html). If the FluSurv-NET hospitalization rate for the specified week is not released by 11:59 PM ET on the tenth calendar day following the date of the prior FluView weekly report release, this market will resolve to the lowest bracket.

Note: Only the CDC FluSurv-NET cumulative hospitalization rate per 100,000 population for the specified week will qualify, regardless of estimates, projections, state-level reports, or other influenza surveillance metrics published by the CDC or other sources.

85–90

80–85

Flu Hospitalization Rate Week

Flu Hospitalization Rate Week 25, 2026?

For the purposes of this market, a Category 4 hurricane is a hurricane with maximum sustained winds of 130-156 mph, as described at https://www.nhc.noaa.gov/aboutsshws.php, and a hurricane landfall is said to occur when the hurricane's surface center intersects with the coastline, as described at https://www.nhc.noaa.gov/aboutgloss.shtml#LANDFALL. 

This market will resolve to "Yes" if any storm makes landfall in the conterminous United States as a Category 4 hurricane, as reported in official National Hurricane Center advisories (https://www.nhc.noaa.gov/archive/2023/IDALIA.shtml?) between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

This market may resolve based on the initial advisory released by the NHC for whether any storm has made landfall in the conterminous United States at Category 4 strength, regardless of any later retraction or analysis that may contradict the initial qualifying announcement. However, subsequent corrections or updates will be considered if they indicate a qualifying incident.

Will any Category 4 hurricane make landfall in the US in before 2027?

This market will resolve to “Yes” if any of the following conditions are met during 2026 ET:

- A Category 5 hurricane makes landfall in the US
- A major meteor strikes (10kt+)
- A major volcano erupts (VEI ≥6)
- An 8.5+ earthquake occurs

Otherwise, this market will resolve to “No”.

If required information from the specified sources remains outstanding, the market may stay open until February 28, 2027, 11:59 PM ET. 

The full rules for this market can be found here:
https://polymarket-upload.s3.us-east-2.amazonaws.com/Natural+Disaster+in+2026.pdf


Natural Disaster in 2026?

This market will resolve according to the number of natural volcanic eruptions with a Volcanic Explosivity Index (VEI) of 4 or higher between January 1 and December 31, 2026, 11:59 PM ET.

The primary resolution source will be the Smithsonian Institution Global Volcanism Program (GVP: https://volcano.si.edu/), specifically the cumulative figures for 2026 for VEI 4, VEI 5, and VEI 6 released on the page currently titled "Eruptions Avg 2000-2024 (N/T)" (https://volcano.si.edu/faq/index.cfm?question=eruptionsbyyear) as of March 31, 2027, 12 PM ET. Any prior updates will not be considered finalized.

If this dataset has not been updated to include all relevant events by March 31, 2027, or if the Smithsonian GVP becomes permanently unavailable, this market may resolve based on a consensus of credible scientific sources, including the U.S. Geological Survey (USGS), national or regional volcanic observatories, or credible reporting of a scientific consensus.

Note: Smithsonian Institution Global Volcanism Program databases, which include eruptions that reached the relevant threshold prior to this market’s timeframe (e.g., https://volcano.si.edu/faq/index.cfm?question=eruptionsbyyear&checkyear=2025), will not be considered.

How many large volcano eruptions (VEI ≥4) in 2026?

This market will resolve according to the number of SpaceX Starship launches successfully reaching an altitude of 62 miles above sea level between January 1, 2026, and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

A successful launch is defined as the Starship taking off from its launchpad and reaching a minimum altitude of 62 miles above sea level. Any subsequent anomaly (e.g., an explosion) after the vehicle reaches 62 miles will have no bearing on the outcome.

The primary resolution source for this market will be SpaceX’s official video feed of the launches (e.g., via SpaceX YouTube Channel), as well as secondary video feeds or written reports if necessary. However, a consensus of credible reporting may also be used.

How many SpaceX Starship launches

How many SpaceX Starship launches reach space in 2026?

On December 9, Google introduced Willow, a breakthrough state-of-the-art quantum chip. This achievement fueled speculation that Bitcoin's encryption may be vulnerable to quantum computers in the not-so-distant future (see https://www.cryptoglobe.com/latest/2024/12/does-googles-new-quantum-chip-willow-threaten-bitcoin-the-crypto-community-responds/).

This market will resolve to "Yes" if Bitcoin stops using SHA-256 by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

The resolution source will be the Bitcoin blockchain, in addition to a consensus of credible reporting.

Will Bitcoin replace SHA-256 before 2027?

If Rocket Lab’s Neutron rocket successfully launches from its launch pad by December 31, 2026, 11:59 PM ET, this market will resolve to “Yes”. Otherwise, this market will resolve to “No.”

The outcome of any launch will be corroborated by examining official video provided by Rocket Lab (https://www.youtube.com/@RocketLabCorp), as well as secondary video feeds and/or written reports if necessary.

Any subsequent anomaly (e.g., explosion or failed ascent) after the initial liftoff will have no bearing on the outcome. Any name change or rebranding of the Neutron vehicle will have no bearing on the market’s resolution.

Rocket Lab’s Neutron Rocket Launch by December 31?

This market will resolve according to the total number of earthquakes with a magnitude of 7.0 or higher that occur anywhere on Earth between January 1 and December 31, 2026, 11:59 PM ET.

The resolution source for this market is the United States Geological Survey (USGS) Earthquake Hazards Program (https://earthquake.usgs.gov/earthquakes/browse/significant.php#sigdef).

If an earthquake of substantial size has occurred within this market's timeframe but not yet appeared on the resolution source, this market may remain open until January 7, 2027, 11:59 PM ET, or until the earthquake in question otherwise appears on the resolution source. If such an earthquake has not appeared on the resolution source by that date, another credible resolution source will be used.

14–16

17–19

11–13

How many 7.0 or above earthquakes

How many 7.0 or above earthquakes in 2026?

As of market creation, the FDA's expected decision date for the specified application is July 7, 2026.

This market will resolve to "Yes" if the U.S. Food and Drug Administration (FDA) grants full or conditional approval for Vera Therapeutics's Atacicept as a treatment for IgA nephropathy in adults by July 21, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

An approval is defined as:
For new drugs: FDA issuance of an approval letter for a New Drug Application (NDA) or Biologics License Application (BLA)
For already-marketed drugs seeking new indications: FDA approval of a supplemental NDA (sNDA) or supplemental BLA (sBLA) for the specific indication referenced
For generic drugs: FDA approval of an Abbreviated New Drug Application (ANDA)
For biosimilars: FDA approval of a 351(k) application

The following constitute qualifying approvals:
Standard approval (traditional approval based on clinical benefit), Accelerated approval (based on surrogate endpoints), Approval with Risk Evaluation and Mitigation Strategy (REMS), Approval with restricted distribution or indication limitations, except compassionate use/expanded access programs

The following do not constitute qualifying approvals:
Approvable letters that require additional actions before approval
Tentative approvals pending patent or exclusivity expiration
FDA requests for additional information or studies
Extension of Prescription Drug User Fee Amendments dates
Approval for compassionate use or expanded access programs only
Approval only for export or for use outside the United States
Emergency Use Authorization (EUA) without full approval
Complete Response Letters (CRLs) indicating the application cannot be approved in its current form

This market will immediately resolve to "No" if the FDA issues a Complete Response Letter (CRL) or explicitly declines to approve the application. If the drug sponsor withdraws the application before the end of the specified period, the market will resolve to "No" immediately.

If the listed drug is approved before the end of the specified period, the market will resolve to "Yes," regardless of potential Advisory Committee votes against approval or later withdrawal of approval.

Conditional approvals may include post-marketing requirements or commitments and still qualify.

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

FDA approves Vera Therapeutics' Atacicept?

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.

Science