{
  "_notice": {
    "type": "free_key_offer",
    "message": "Free and anonymous access is staying. If this endpoint is in your pipeline, a free key adds advance notice before any schema change or deprecation. POST /v1/keys {\"email\": \"you@firm.com\"} — nothing else required. Something broken or missing? hello@clearmarket.fyi reaches a human.",
    "docs": "https://clearmarket.fyi/for-data/",
    "policy": "This field is additive and its shape will not change."
  },
  "event_id": "CM-EVT-SXNSY8MR50",
  "slug": "discord-ipo-closing-market-cap-20260626185933220",
  "question": "Will Discord’s market cap be between $8B and $11B at market close on IPO day by December 31, 2027?",
  "category": "financials",
  "event_type": "BINARY",
  "ladder_distribution": null,
  "tags": [
    "financials",
    "tech",
    "finance",
    "discord",
    "ipo",
    "market-cap"
  ],
  "catalyst_types": [],
  "catalyst_dates": [],
  "editorial_notes": "These markets track Discord's IPO-day closing market capitalization against discrete valuation tiers, resolving by December 31, 2027. All eight markets are Polymarket binary contracts, spanning ranges from sub-$5B to $20B-plus, plus a no-IPO outcome. Together they form a probability distribution over Discord's first-day valuation. Resolution for each contract uses Polymarket's UMA Optimistic Oracle against the official closing price on IPO day.",
  "venues_covered": [
    "polymarket"
  ],
  "primary_market_id": "CM-MKT-C8YKX0CKZ1",
  "current_primary_mark": {
    "last_price": 0.37,
    "implied_probability": 0.37
  },
  "created_at": "2026-07-23T21:11:14.426158+00:00",
  "updated_at": "2026-07-23T21:11:14.426158+00:00",
  "markets": [
    {
      "market_id": "CM-MKT-D3JDMRR6W1",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0xa4bff73d1056a7b0c5c3e509c685da3e957800b720e4e456974ddd171c5857da",
      "question": "Will Discord’s market cap be less than $5B at market close on IPO day by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "<5B: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.18,
      "implied_probability": 0.18,
      "volume_24h_usd": null,
      "volume_total_usd": 413.09999700000003,
      "settlement_style": "terminal",
      "direction": "below",
      "threshold": 5000000000,
      "question_id": "CMX-B2C4897348",
      "also_on": null,
      "tags": [
        "discord",
        "ipo",
        "market-cap"
      ],
      "eligibility_screens": null
    },
    {
      "market_id": "CM-MKT-MFK4S3M1S4",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0x3ad1c146254e428b7832611ed6dd20bcd63f9eae6f1c12768e830691f41eab47",
      "question": "Will Discord’s market cap be between $5B and $8B at market close on IPO day by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "5–8B: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.145,
      "implied_probability": 0.145,
      "volume_24h_usd": null,
      "volume_total_usd": 492.13989300000003,
      "settlement_style": "terminal",
      "direction": "between",
      "threshold": null,
      "question_id": "CMX-234D2BF083",
      "also_on": null,
      "tags": [
        "discord",
        "ipo",
        "market-cap"
      ],
      "eligibility_screens": null
    },
    {
      "market_id": "CM-MKT-C8YKX0CKZ1",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0xc9fccf87af2cb430cf5f97b5c25a6653f662c6bc8372fcaeece922f21f43ae4b",
      "question": "Will Discord’s market cap be between $8B and $11B at market close on IPO day by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "8–11B: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.37,
      "implied_probability": 0.37,
      "volume_24h_usd": null,
      "volume_total_usd": 7895.551902,
      "settlement_style": "terminal",
      "direction": "between",
      "threshold": null,
      "question_id": "CMX-1EB80BBB65",
      "also_on": null,
      "tags": [
        "discord",
        "ipo",
        "market-cap"
      ],
      "eligibility_screens": null
    },
    {
      "market_id": "CM-MKT-Z510193L52",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0x1520e620493a31ee24d040336999f91dc17d3f480bcd8de689cc5bb00d3d6655",
      "question": "Will Discord’s market cap be between $11B and $14B at market close on IPO day by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "11–14B: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.128,
      "implied_probability": 0.128,
      "volume_24h_usd": null,
      "volume_total_usd": 335.797559,
      "settlement_style": "terminal",
      "direction": "between",
      "threshold": null,
      "question_id": "CMX-234D2BF083",
      "also_on": null,
      "tags": [
        "discord",
        "ipo",
        "market-cap"
      ],
      "eligibility_screens": null
    },
    {
      "market_id": "CM-MKT-XD8BSGGDM1",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0x3ea5d3923b3992645845e8b11f8f0ea07d87e0bd19d80c0c50ffd52b257c4fe5",
      "question": "Will Discord’s market cap be between $14B and $17B at market close on IPO day by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "14–17B: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.282,
      "implied_probability": 0.282,
      "volume_24h_usd": null,
      "volume_total_usd": 291.602035,
      "settlement_style": "terminal",
      "direction": "between",
      "threshold": null,
      "question_id": "CMX-1EB80BBB65",
      "also_on": null,
      "tags": [
        "discord",
        "ipo",
        "market-cap"
      ],
      "eligibility_screens": null
    },
    {
      "market_id": "CM-MKT-8JYN2W4Z40",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0x9b0a62568ac5f4ac2331898c048af000fac511d7515107cdb0ac33d29de71b5e",
      "question": "Will Discord’s market cap be between $17B and $20B at market close on IPO day by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "17–20B: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.22,
      "implied_probability": 0.22,
      "volume_24h_usd": null,
      "volume_total_usd": 324.97272499999997,
      "settlement_style": "terminal",
      "direction": "between",
      "threshold": null,
      "question_id": "CMX-B31E038372",
      "also_on": null,
      "tags": [
        "discord",
        "ipo",
        "market-cap"
      ],
      "eligibility_screens": null
    },
    {
      "market_id": "CM-MKT-9JP282D763",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0x5feddcdc0f6721566d93b221128c6aa670a9811adfa166f549263c7bed16bdec",
      "question": "Will Discord’s market cap be $20B or greater at market close on IPO day by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "20B+: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.06,
      "implied_probability": 0.06,
      "volume_24h_usd": null,
      "volume_total_usd": 171.04128500000007,
      "settlement_style": "terminal",
      "direction": "above",
      "threshold": 20000000000,
      "question_id": "CMX-6CAA6CF6F6",
      "also_on": null,
      "tags": [
        "discord",
        "ipo",
        "market-cap"
      ],
      "eligibility_screens": null
    },
    {
      "market_id": "CM-MKT-XYQ2VDH554",
      "event_id": "CM-EVT-SXNSY8MR50",
      "platform": "polymarket",
      "platform_market_id": "0x9438a0543ab229bab611313d082d3c184bdf114d3a8d787908f87bc79d3c2af7",
      "question": "Will Discord not IPO by December 31, 2027?",
      "description": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "No IPO by December 31, 2027: The named company's market capitalization at official closing price on its first public trading day, calculated as outstanding shares multiplied by closing share price, by December 31, 2027, 11:59 PM ET, or \"No IPO by deadline\" if no initial public offering occurs.",
      "close_at": "2027-12-31T23:59:00Z",
      "resolve_at": "2027-12-31T23:59:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve based on Discord's market capitalization at the closing price on its first day of trading.\n\nIf no such IPO occurs by December 31, 2027, 11:59 PM ET, the market will resolve to \"No IPO by December 31, 2027\".\n\nMarket capitalization expresses the monetary value of a company’s outstanding shares, stated in its pricing currency.\n\nIt is calculated as the total number of outstanding shares, multiplied by the official closing share price of the publicly traded class on the first trading day.\n\nIf necessary, to accurately capture the company’s total market capitalization, rather than a stock-class-specific market capitalization, the calculation will include all outstanding share classes and apply any stated conversion ratios to the publicly traded class. Where no conversion right exists, such shares will be counted at their stated outstanding amount without discount, unless official filings explicitly specify differently.\n\nThe number of outstanding shares will be determined from official company filings or disclosures (e.g., SEC filings). The closing share price on the first trading day will be determined from the primary exchange’s official listing page.\n\nIf the relevant value falls exactly between two brackets, this market will resolve to the higher range bracket.\n\nThe primary resolution source for this market will be official company filings and the primary exchange’s official listing page. The market capitalization will be determined through appropriate calculation using the total outstanding shares and the closing price from the first day of trading.\n\nIn the event of an interruption in the normal trading session on the specified company’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 day as the first day of trading for the purposes of this market.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "no_committed_source",
        "source_citation": null,
        "sources": [
          {
            "name": "official company filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          },
          {
            "name": "SEC filings",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": null,
        "source_mechanism": null,
        "source_type": null,
        "source_quality": null,
        "source_commitment": "uncommitted",
        "source_commitment_subtype": "uncommitted_placeholder",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 72,
        "caps": [
          "commitment_uncommitted_placeholder"
        ],
        "applied_factors": 7
      },
      "last_price": 0.099,
      "implied_probability": 0.099,
      "volume_24h_usd": null,
      "volume_total_usd": 302.02234199999987,
      "settlement_style": "occurrence",
      "direction": "occurrence",
      "threshold": null,
      "question_id": "CMX-0F3AECCACC",
      "also_on": null,
      "tags": [
        "discord",
        "ipo"
      ],
      "eligibility_screens": null
    }
  ],
  "resolution_log": [],
  "_provenance": {
    "source": "clearmarket.fyi",
    "ref": "CM-EVT-SXNSY8MR50",
    "terms": "Attribution required. clearmarket.fyi"
  }
}