Despite a period of investor uncertainty marked by significant policy shifts and government shutdowns that stalled initial public offering (IPO) activities, the financial landscape is showing signs of a strong recovery. This shift is largely propelled by a surging interest in artificial intelligence (AI) and is being closely monitored by prediction markets. While the spotlight often shines on tech giants, several less-publicized companies are emerging as strong candidates for IPOs, indicating a broader market reawakening.
Prediction platforms like Kalshi are providing early forecasts for which entities are likely to go public in the near future. These insights offer a glimpse into the evolving investment trends and highlight a diverse array of businesses—from cryptocurrency exchanges to cutting-edge AI developers and social communication platforms—all preparing to enter the public market. This renewed activity suggests a dynamic period ahead for investors looking to capitalize on new opportunities.
Emerging IPO Candidates Beyond Tech Giants
In a period that previously saw investor confidence waver due to political turbulence, including new tariff policies and a lengthy government shutdown, the market is now experiencing a significant turnaround. This resurgence is primarily fueled by sustained excitement surrounding artificial intelligence, which is redirecting attention towards a new wave of companies poised for initial public offerings. While major players like SpaceX and OpenAI have dominated headlines, prediction markets such as Kalshi are indicating that a diverse array of lesser-known companies are also attracting considerable investor interest and are strong contenders to go public by 2027.
Kalshi's data provides early and compelling indicators of which companies are likely to join the public market before the end of 2026. For instance, Kraken, a prominent cryptocurrency exchange, shows an 83% likelihood of completing its IPO. This follows its confidential filing for a U.S. IPO and reflects a broader trend among digital asset firms looking to access U.S. equity markets. Another promising candidate is Cerebras Systems, an AI chipmaker, with a 77% probability, which is preparing to refile its IPO paperwork after a previous withdrawal. Databricks, an AI software company, boasts a 70% chance after raising substantial capital at a high valuation, positioning its IPO as a major tech listing. Additionally, Discord, a popular communication platform, also has a 70% chance, signifying its move toward public trading after more than a decade as a private entity. These predictions highlight a vibrant and expanding IPO market, driven by both established and innovative companies across various sectors.
The Resurgence of the Public Offering Market
The financial markets are signaling a significant shift towards a more active initial public offering (IPO) environment, particularly as the calendar approaches 2026. After a year fraught with investor apprehension due to policy changes and governmental disruptions, the momentum is building, largely on the back of advancements and sustained enthusiasm in artificial intelligence. This renewed vigor is pointing to a bustling period for public listings, moving beyond the familiar big names like SpaceX and OpenAI, and revealing a deeper pool of companies preparing to debut.
Kalshi, a real-money prediction market, offers unique insights into which firms are most likely to enter the public market before 2027. Its data, current as of a recent assessment, suggests high probabilities for several key players. Kraken, a well-known crypto exchange, stands out with an 83% chance of going public, bolstered by its confidential U.S. IPO filing. Similarly, AI chipmaker Cerebras Systems is pegged at a 77% likelihood, anticipating a re-filing of its IPO documents in early 2026. Databricks, a leading AI software company, shows a strong 70% probability, especially after securing substantial funding that pushed its valuation to an impressive $134 billion. Popular communication platform Discord also holds a 70% chance, signaling its anticipated transition to a publicly traded company. Beyond these, fintech firm Plaid and defense tech company Anduril, along with apparel brand Skims, each show significant, though slightly lower, probabilities, underscoring the broad and diverse nature of the upcoming IPO wave.