Key Takeaways:
Polymarket launches the first prediction markets tied to private companies, using Nasdaq Private Market data to resolve outcomes.Nearly 1,600 unicorns hold over $5 trillion in value, a pool previously inaccessible to retail participants before today’s opening.Nasdaq Private Market (NPM), which has executed nearly $80 billion in secondary liquidity, will supply institutional-grade data as more markets roll out.The move opens a segment of financial markets that has long been closed to most individuals. Nearly 1,600 unicorn companies globally now hold more than $5 trillion in cumulative value, yet participation in those companies before an IPO has historically been limited to institutions and high-net-worth investors.
Coplan added:
“Today’s launch brings that power to one of the last frontiers of financial markets that retail participants have never been able to access.”
Through an exclusive agreement, Nasdaq Private Market (NPM) will serve as the resolution data provider for all private company markets on Polymarket. That means every market will settle based on verified, institutional-grade data tied to real private company events.
The types of events covered may include valuation milestones, IPO timing, and secondary market activity. Individuals who want exposure to companies like those frequently discussed before a public listing now have a structured way to engage.
The platform has positioned itself as a trusted infrastructure provider across the private market. Polymarket, Callahan said, extends that reach to a wider audience. “When retail participants enter any market, high-integrity data matters,” he added.
The arrangement also creates a new layer of information for institutional investors. Rodolfo Sanchez, VP of Data at Nasdaq Private Market, described it as a two-way data flow. Nasdaq Private Market anchors each market with verified data on the underlying company. The trading activity in those markets then becomes a real-time signal on private company performance, visible to institutions that already rely on Nasdaq Private Market’s transaction-based pricing.
That dynamic gives institutional investors an additional tool alongside the data they already use, while retail participants gain a structured entry point to private company outcomes for the first time.
If the company reaches a listed valuation at any point before the deadline, the outcome settles Yes. Delayed NPM data pushes final resolution to Jan. 4, 2027. An IPO or direct listing would also count toward resolution using public market capitalization data, while an acquisition ending Anthropic’s independence would lock the outcome based only on valuations recorded before the deal closes.
