Estimated: a "by when" market with no scheduled event behind it. The largest step between consecutive strikes (taking the highest quote seen so far where a later strike is quoted lower) is Mar 1, 2027 (11%) to Apr 1, 2027 (22%), so the window opens on Mar 1, 2027. Quotes are bid/ask midpoints read on 27 October 2026; some strikes are quoted out of order, so the ladder is not strictly rising. Estimated contract-count-times-last-price volume across active strikes is about US$7,201 (34,370 contracts); this is not reported cash turnover.[1]
Kalshi
On 27 October 2026 Kalshi put an official Databricks IPO confirmation at 2% before Nov 1, 2026, rising to 68% before Jan 1, 2028. The largest step in the ladder runs from Mar 1, 2027 to Apr 1, 2027 (11% to 22%), so that window is the market's most likely stretch; it is a bet on timing, not a listing date.