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Markets bet on whether Discord will IPO in 2025

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Kalshi has reported 15,966 in volume over the last 24 hours on their market for “Who will IPO in 2025?”, making it one of the hottest markets on the platform today.

The market currently is implying a 36% chance for "Discord", which is neutral from yesterday, when the market implied a 36% probability.

If Discord Inc. confirms an IPO before Jan 1, 2026, then the market resolves to Yes.

In total, this market has seen a volume of 169,695 transactions since it was first opened on July 28, 2025. There are 78,698 positions of open interest in this market, and the overall liquidity is sitting at 1,465,328 contracts.

Based on Quiver’s tracking, here are 10 of the finance and politics markets that have had the most volume on Kalshi over the last 24 hours:

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