Prediction market Kalshi has priced a 95 percent chance that Anthropic will announce an initial public offering before 2027.

Cryptopolitan, a blockchain outlet, reported on Oct. 26 that Anthropic recently made public its S-1 registration statement and said it plans to list on Nasdaq under the ticker symbol "ANT".

The Wall Street Journal reported that Anthropic is targeting a plan to begin trading in the week that includes Nov. 16. Kalshi priced a 14 percent chance the process will be completed earlier than that, while Polymarket sees a 69 percent chance trading will begin before Nov. 20.

The two markets use different standards. Kalshi treats an IPO announcement as the point when the U.S. Securities and Exchange Commission approves the S-1, the offering price is set, or an exchange assigns a ticker symbol. Expectations for a listing are high, but the desired offering price per share has not yet been disclosed.

Expectations for the company's valuation are very large. Some in the market also forecast Anthropic's value could exceed $2 trillion. For such a valuation to materialise, investor demand and financial performance will ultimately need to support it.

The company appears to have ample funding capacity. Anthropic disclosed that it continues to post losses and that its working capital, the amount of funds it can deploy for operations, stands at $131.6 billion.

Risk disclosures also stand out. Anthropic said that sufficiently advanced artificial intelligence systems, if developed, deployed and operated without appropriate safeguards, oversight and security measures, could cause catastrophic or existential risks to humanity.

The company has said that an organisation believed to be backed by China manipulated Claude and used it to infiltrate technology companies, banks, chemical manufacturers and government agencies. While advancing AI models is central to its business, it also highlighted a structure that requires security controls and safety assurances at the same time in that process.

Anthropic's listing is expected to be a test of how much growth expectations for the AI industry translate into actual investor demand. Tasks remain, including presenting a path to improved profitability that can support a high valuation and measures to respond to AI safety and security risks.