TOTAL VOLUME:
$134.1b
24H VOL:
$133,388,117
24H TRANSACTIONS:
2,388,728,490
OPEN INTEREST:
$1,436,095,462
405,232
Markets across
30,526
events
MATCHED EVENTS:
2,693
PLATFORM COVERAGE:
5
Polymarket:
39%
VS.
Kalshi:
61%
Closed: Jul 31, 5:36 PM EST
Polymarket
This market will resolve according to the company that owns the model that has the second-highest arena rank (Style Control On) based on the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) when the table under the "Leaderboard" tab is checked on July 31, 2026, 12:00 PM ET. Results from the "Rank" column under the "Text Arena | Overall" Leaderboard tab at https://lmarena.ai/leaderboard/text with style control on will be used to resolve this market. Models will be ordered primarily by their leaderboard rank at the market’s check time. If two or more models are tied on rank, they will be ordered by their Arena score, including any underlying, unrounded, granular values reflected in the data below the leaderboard. If a tie remains, alphabetical order of company names as listed in this market group will be used as a final tiebreaker (e.g., if the two models are tied by exact arena score, “Google” would be ranked ahead of “xAI”). This market will resolve based on the company that occupies second place under this ranking system. The resolution source for this market is the Chatbot Arena LLM Leaderboard found at https://lmarena.ai/. If this resolution source is unavailable at check time, this market will remain open until the leaderboard comes back online and will resolve based on the first check after it becomes available. If it becomes permanently unavailable, this market will resolve based on another resolution source.
This market will resolve according to the company that owns the model that has the second-highest arena rank (Style Control On) based on the Chatbot Arena LLM Leaderboard (https://lmarena.ai/) when the table under the "Leaderboard" tab is checked on July 31, 2026, 12:00 PM ET. Results from the "Rank" column under the "Text Arena | Overall" Leaderboard tab at https://lmarena.ai/leaderboard/text with style control on will be used to resolve this market. Models will be ordered primarily by their leaderboard rank at the market’s check time. If two or more models are tied on rank, they will be ordered by their Arena score, including any underlying, unrounded, granular values reflected in the data below the leaderboard. If a tie remains, alphabetical order of company names as listed in this market group will be used as a final tiebreaker (e.g., if the two models are tied by exact arena score, “Google” would be ranked ahead of “xAI”). This market will resolve based on the company that occupies second place under this ranking system. The resolution source for this market is the Chatbot Arena LLM Leaderboard found at https://lmarena.ai/. If this resolution source is unavailable at check time, this market will remain open until the leaderboard comes back online and will resolve based on the first check after it becomes available. If it becomes permanently unavailable, this market will resolve based on another resolution source.
Prediction market odds on Polymarket often diverge from traditional analyst forecasts and tech research reports. Markets price in real-time information and trader conviction, while analyst predictions may lag behind rapid AI development cycles. Analysts typically focus on model capabilities and training data, whereas traders weigh competitive positioning, funding, and market adoption signals. When major AI labs announce new models or benchmark results, prediction markets often adjust faster than published analyst reports. Comparing Polymarket implied probabilities to consensus views from AI research firms and tech publications can reveal where the crowd sees undervalued or overvalued outcomes relative to expert opinion.
On Polymarket, the #2 AI model ranking is priced through outcome tokens representing each major AI company contender. On Polymarket, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. Each token trades at a price reflecting the market's implied probability that company will hold the second-ranked position by end of July 2026. Prices fluctuate based on model announcements, benchmark releases, competitive developments, and trader sentiment. Liquidity pools and order books determine bid-ask spreads; deeper liquidity typically narrows spreads and reduces slippage. Traders buy tokens for companies they believe will rank #2 and sell those they expect to rank higher or lower, with token prices converging toward zero or one hundred as resolution approaches.
The market resolves on Jul 31, 2026. Resolution is determined by identifying which company's AI model ranks second according to the established ranking criteria at that time. The outcome hinges on comparative model performance, capabilities, and market recognition as of the end-of-July snapshot. Major factors include benchmark scores, real-world deployment metrics, and industry consensus on model quality. The resolution process evaluates the state of AI rankings at the specified date, with the second-ranked company's token resolving to one hundred and all others to zero. Traders should monitor official announcements and ranking methodologies leading up to the deadline.
Major AI model releases and benchmark announcements will significantly shift odds as companies unveil new capabilities. Performance on standardized tests like MMLU, coding challenges, and reasoning tasks directly influence rankings. Funding announcements, talent acquisitions, and partnership deals signal competitive strength and can reshape market expectations. Regulatory developments or safety concerns affecting specific companies may alter their ranking trajectory. Real-world deployment success or failure in high-stakes applications influences perceived model quality. Competitive positioning shifts when leading labs publish research or announce next-generation models. Media coverage and industry sentiment also drive trader conviction. Tracking AI conference announcements, preprint publications, and company earnings calls provides early signals of ranking changes before Jul 31, 2026.