Traders on Polymarket, the only major prediction platform tracking this event, see a 96% probability that OpenAI's market cap will fall short of the $1.25 trillion to $1.5 trillion bracket at the close of its first trading day. With over $517,000 in volume wagered on the outcome, the market reflects a strong consensus that the AI giant's public debut will be more modest than some bullish projections. No specific external trigger was identified in today's news flow to explain the low odds, though the absence of a confirmed IPO date or detailed financial disclosures may contribute to market caution. The lack of data from Kalshi and Manifold limits cross-platform comparison, but Polymarket's liquidity suggests informed participants are pricing in a valuation under $1.25 trillion, potentially due to regulatory headwinds, competitive pressures from rivals like Anthropic and Google, or uncertainty around OpenAI's path to profitability.