**Anthropic’s planned November 2026 IPO remains the dominant near-term catalyst for IPO-related prediction markets through year-end.** The company has confidentially filed and is reportedly preparing to begin marketing the week of November 9, targeting a pre-Thanksgiving listing at a valuation potentially near $2 trillion, which would mark one of the largest U.S. IPOs on record. Smaller deals continue to price successfully, including Lycia Therapeutics and City Therapeutics in mid-October, while broader 2026 volume has already surpassed prior years in proceeds despite fewer deals overall. Market-implied odds reflect trader focus on execution risk tied to AI valuation volatility, recent equity sell-offs, and the narrow window before year-end. Key upcoming events include Anthropic’s public filing timeline and any shifts in Treasury yields or risk appetite that could influence institutional demand.