Anthropic is reportedly preparing for a public market debut in mid-November 2026, with the company aiming to begin trading before the US Thanksgiving holiday on November 26. Anthropic has not announced a ticker symbol, but prediction market participants have already settled on a leading candidate: Polymarket traders currently assign a 65% probability to the company listing under the ticker $ANT.

What Anthropic is reportedly planning

Anthropic PBC, the artificial intelligence company founded by former OpenAI executives, reportedly filed a draft S-1 registration statement with the US Securities and Exchange Commission (SEC) on June 1, 2026. The S-1 is the disclosure document a company submits before selling shares to the public. Under standard procedure, SEC staff review the draft and the issuer responds through amendments, a process that concludes only when the registration is declared effective and shares can be priced.

A draft filing does not lock in a listing date, and the current November window replaces an earlier September target that slipped.

Valuation expectations are substantial. Market estimates place a possible valuation between $1.5 trillion and $2 trillion, a range that at the top end would put Anthropic alongside SpaceX's market capitalization. The proposed fundraising is equally ambitious, with reports indicating the company could raise between $75 billion and $100 billion.

The financial picture

Anthropic's estimated 2025 revenue stands at approximately $4.6 billion, up sharply from $386 million in 2024. The other side of the ledger is less flattering: the company has reportedly recorded significant net losses, including a $42 billion figure attributed to accounting adjustments.

Such adjustments can swing reported losses without reflecting cash outflows, but a figure of that size is likely to be among the first items prospective shareholders scrutinize once the full prospectus is public.

The $ANT trade on Polymarket

Polymarket is a platform where traders put money on the outcomes of real-world events, from elections to which three-letter symbol an AI lab selects for its stock.

Sentiment around $ANT has shifted. As of October 24, 2026, Polymarket showed $ANT as the leading option with roughly 44% probability; the latest reading cited by traders puts it at 65%. Anthropic has not confirmed any symbol. Under standard listing procedure, a company finalizes its ticker in coordination with the exchange where its shares will trade.

Why the timing is complicated

The calendar presents challenges. Filing adjustments may hinge on market conditions and the political timing surrounding the US midterm elections scheduled for early November 2026.

Thanksgiving creates its own deadline: trading volume typically thins around holidays, so a listing pushed past late November could drift into the following year. The company has already moved its target date once.

Background: how Anthropic got here

Anthropic was founded by people who left OpenAI and operates as a public benefit corporation, the structure reflected by the PBC in its legal name and one that requires directors to weigh the company's stated public mission alongside shareholder value. Its revenue growth, from $386 million in 2024 to approximately $4.6 billion in 2025, tracks the broader surge in corporate spending on AI tools.

What this means for investors

For public market investors, the main issue is access. Pure-play AI model developers have largely been off-limits to anyone outside venture rounds and private deals, and a listing of this size would change that. The reported $75 billion to $100 billion raise indicates how much capital Anthropic expects to absorb.

The valuation is the central risk. A $1.5 trillion to $2 trillion price tag on a company with approximately $4.6 billion in estimated revenue implies investors would be paying for growth that has not yet materialized. Once the full S-1 becomes public, investors will be able to separate the accounting-driven portion of the $42 billion figure from the cash the business actually burns.

For prediction market traders, the ticker bet resolves the moment Anthropic names its symbol. The move from 44% in late October to 65% reflects how quickly sentiment can shift when a major listing approaches.

The milestones to watch are straightforward: the public release of the S-1, a confirmed exchange and ticker, a final price range, and whether the November target survives the midterm elections.