This market will resolve to "Yes" if Kalshi (Kalshi, Inc. or any successor entity representing Kalshi's primary commercial operations) becomes a publicly traded company through an initial public offering (IPO), direct listing, or SPAC/business combination — such that equity shares are first offered to the public and Kalshi is listed and actively tradable on a major stock exchange — before October 1, 2026 - 00:00 PST.

Otherwise this market will resolve to "No."

For the purposes of this market: filings alone, announcements of intent, private secondary transactions, and token listings that do not represent Kalshi equity do not qualify.

The only qualifying criteria for “Yes” outcome is the offering, listing, and active trading of Kalshi equity on a public stock exchange before the cited market expiry date.