**[Analysis: Pre-IPO Frenzy Spills Over to Prediction Markets, Pre-IPO Trading Becomes New Hotspot]** Odaily Planet Daily News – As expectations rise for several potential major IPOs, "prediction market trading" surrounding unlisted star companies is rapidly heating up. Users are participating in Pre-IPO market speculation through prediction contracts. Platforms like Polymarket and Kalshi have become the primary channels, allowing users to engage in "yes/no" contract trading on key metrics such as valuation ranges and listing timelines. Prices are denominated in cents, and if the outcome is correct, the contract settles at $1. Since ordinary investors find it difficult to directly participate in equity investments of popular private companies like SpaceX and OpenAI before their IPOs, prediction markets are transforming related expectations into tradable, event-driven assets. Analysts believe that as the window for potential "super IPOs" approaches, prediction markets are leveraging public sentiment and capital attention to convert IPO narratives into short-term volatility opportunities on blockchain and compliant trading platforms, further expanding their influence in the fields of financial speculation and information pricing. (The Information)