Key Notes
- Polymarket’s ANT pre-IPO perpetual trades around the clock with up to 10x leverage.
- Traders use pUSD collateral and receive derivative price exposure rather than Anthropic shares.
- The international product is unavailable for trading in the United States.
Polymarket is offering around-the-clock perpetual futures tied to Anthropic’s pre-IPO price, with leverage of up to 10x. Its November 2 official announcement identifies the market as ANT and says the contract has no expiry or restricted market hours.
The product gives eligible traders a way to take bullish or bearish positions on the private AI company. It does not make them Anthropic shareholders or establish ANT as an officially assigned public-stock ticker.
Polymarket’s official Anthropic pre-IPO perpetual announcement.
Price Exposure Without Share Ownership
Polymarket’s pre-IPO page describes ANT as a derivative that lets traders go long or short against a reference price associated with Anthropic’s private valuation. Unlike buying equity, opening the position does not transfer ownership of company shares.
A perpetual contract has no scheduled expiration. It can remain open until the trader closes it or insufficient margin triggers liquidation. Periodic funding payments between long and short positions help keep the contract aligned with its reference price.
pUSD Collateral Supports Leveraged Positions
The ANT listing identifies pUSD as collateral and shows leverage of up to 10x. That maximum increases potential gains and losses relative to the collateral supporting a position.
Polymarket’s contract documentation distinguishes the index price used as a reference from the mark price used to calculate unrealized profit, account equity and liquidation risk. A trader’s position can therefore be closed under the platform’s margin rules even though the contract has no expiry.
The November 2 announcement confirms the product’s availability. Earlier launch reporting described the contract on October 29, so the later promotional post should not be treated as proof that trading first began on November 2.
International Product Has Geographic Restrictions
Polymarket’s follow-up post says ANT trading is unavailable in the United States. Its international website separately states that it operates independently from the CFTC-regulated Polymarket US exchange.
The offering also differs from the PreStocks tokens covered in our Pump.fun report. Both provide routes to private-company price exposure, but they use different product structures. Traders should distinguish a leveraged derivative from a token backed through an investment vehicle and from direct ownership of company equity.
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