Prediction markets are signaling skepticism about Canva's ability to secure the second-highest private market valuation by the end of July. On Kalshi, where $46,000 in contracts have been traded, the probability stands at 18%, while Polymarket, with $365 in volume, shows a 0% chance. The absence of Manifold data and the wide divergence between the two platforms—Polymarket's zero suggests extreme doubt—underscores a lack of confidence among forecasters. No specific external trigger was identified in today's news flow to explain the low odds, but the data points to a market expectation that Canva will not surpass rivals like SpaceX or ByteDance in the private valuation rankings. The 18% figure on Kalshi implies a roughly one-in-five chance, but the Polymarket reading of 0% indicates that some traders see the outcome as virtually impossible, creating a notable spread of 18 percentage points. This discrepancy may reflect differences in market liquidity or participant interpretation of the resolution criteria, but the overall trend is clear: markets expect Canva to fall short.