Huang’s resignation sends Nvidia CEO exit contracts to 99.9 cents as successor markets reprice
Nvidia said Huang resigned effective immediately, with Colette Kress as interim CEO; Polymarket's exit contracts moved to 99.9 cents pending settlement.
Jensen Huang has resigned as Nvidia’s chief executive. In a release on Thursday, Nov. 12, Nvidia’s board announced that Huang had resigned as president, CEO and a member of the board, effective immediately. Chief financial officer Colette Kress agreed to serve as interim CEO while remaining CFO, and the board named Harvey C. Jones, a former Synopsys CEO, as its first-ever chair. The board is starting a search for a permanent CEO and will consider internal and external candidates.
The announcement is the event a cluster of prediction markets was built around, and by mid-morning their prices reflected it.
The exit contracts
On Polymarket, every open deadline in the “Jensen Huang announced resignation or removal by…?” event traded at 99.9 cents as of 9:10 a.m. ET, from the Nov. 12 contract out to Dec. 31, 2027. Each was marked “proposed” in Polymarket’s resolution process, meaning an outcome had been put forward but the markets had not yet formally closed.
The price path shows how far traders had come in a day. In Polymarket’s hourly history, the year-end contract stood at 16.5 cents at 8 a.m. ET on Wednesday and 77.5 cents at 8 a.m. ET on Thursday. The Nov. 12 contract, which only paid if an announcement came by the end of Thursday, was at 45.5 cents at that same reading. The event has drawn about $21 million in volume, nearly all of it in the past 24 hours. The Nov. 11 contract had already settled “No.”
Polymarket’s rules for this event count a public, definitive announcement by Huang, Nvidia or their representatives that he has resigned or been removed, and Nvidia’s release fits that description. EventMarkets tracked the run-up in its Wednesday report and its overnight report, when the year-end contract was at 36 and then 83 cents.
On Kalshi, the “Will Jensen Huang leave as Nvidia CEO” ladder traded at 99 cents across its listed deadlines as of the same time, with no settlement result posted yet. Kalshi’s rules for that series pay on an announcement that the CEO has left the position.
Successor markets split on the interim question
The release also reshaped the markets on who comes next, and the difference between platforms turns on interim appointments.
Kalshi lists a “next CEO of NVIDIA (including interim)” series, and its Kress contract traded at 99 cents. Kalshi’s main “Who will be the next CEO of NVIDIA?” series, like Polymarket’s, is about the next permanent chief. There, Kress traded at 29 cents and Ian Buck at 27 cents, with Thomas Kurian at 25 cents.
Polymarket’s “Next CEO of NVIDIA?” market excludes interim CEOs under its rules and settles on the first successor officially announced by Dec. 31, 2028. As of 9:10 a.m. ET, Kress was at 34 cents, up from about 5 cents a day earlier, and Buck at 28 cents. “Jensen Huang (No Change)” fell to 6.7 cents from 25 cents at 8 a.m. A separate Polymarket contract on whether a new CEO is named by Dec. 31, 2026, last traded at 68 cents, with offers at 64 cents on thin volume of about $5,300.
Huang also left Nvidia’s board, and Polymarket’s smaller market on a board departure announcement traded at 98 to 99 cents across its dates.
Nvidia said it will report third-quarter fiscal 2027 results on Tuesday, Nov. 17, as scheduled. The board’s CEO search now sets the clock for the successor contracts, and Polymarket’s AI bubble market, one of whose conditions counts Nvidia’s share price, runs through the end of 2026.
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