Polymarket Perps lets traders bet 10x on Anthropic before any IPO

Polymarket Perps just opened a market on a company that isn't public yet. The platform launched a pre-IPO perpetual contract tied to Anthropic, the AI lab behind Claude, trading under the ticker $ANT. Traders can take positions around the clock with no expiry date hanging over the trade.

The product carries up to 10x leverage, according to Cointelegraph. That's a big swing for an asset with no stock price, no earnings calendar and no IPO date on the books. Perpetuals strip out expiration, so positions can stay open as long as the trader can hold them.

There's a catch for Americans. The Anthropic contract isn't available to US users, per the same report. Polymarket has built its business around restricting US traders, a stance rooted in its earlier run-ins with regulators, so the carve-out fits the platform's existing playbook.

Pre-IPO perpetuals are a new twist on an old obsession: getting exposure to hot private companies before Wall Street does. Anthropic sits at the center of the AI boom, which makes it exactly the kind of name speculators want to trade. Polymarket is betting they'll do it on its rails instead of waiting for an eventual listing.

What happens next depends on the platform's risk engine. A leveraged, expiry-free market on a private company has no closing bell and no earnings report to anchor it — just whatever price traders agree on. For now, the door is open everywhere except the US.