This market will resolve according to Anthropic’s market capitalization at the official close of its first day of public trading, provided Anthropic completes an initial public offering on or before December 31, 2026, at 11:59 p.m. ET.

Anthropic’s closing market capitalization will be calculated as:

Official closing share price × total issued and outstanding shares immediately following the IPO

The share count will include all issued and outstanding classes of equity that are economically equivalent to Anthropic’s publicly traded common shares. Unexercised options, warrants, restricted stock units, convertible securities, and other potentially dilutive securities will not be included unless they have been exercised, converted, or issued and are outstanding at the close of the first trading day.

The market will resolve to the applicable outcome:

• Less than $1T: Below $1.000 trillion

• $1T–$1.14T: $1.000 trillion through $1.149999 trillion

• $1.15T–$1.5T: $1.150 trillion through $1.500 trillion

• More than $1.5T: Greater than $1.500 trillion

Resolution will primarily use Anthropic’s final IPO filings with the U.S. Securities and Exchange Commission and official closing-price data from the exchange on which Anthropic is listed. Reputable financial reporting sources may be used if necessary.

If Anthropic does not complete an IPO and begin public trading by December 31, 2026, this market should resolve to “No IPO by December 31, 2026,” provided that outcome is included.