This market resolves to YES if Perplexity AI and Snap Inc. (parent company of Snapchat) publicly confirm they are in formal merger or acquisition discussions before December 31, 2025.

Context:

• Perplexity AI has been expanding through acquisitions, most recently acquiring Visual Electric in October 2025

• Perplexity has raised over $1.5 billion in funding with a valuation reaching $20 billion

• Snap Inc. has been focusing on AR technology and AI features, areas that align with Perplexity's interests

• Apple and Meta previously showed interest in acquiring Perplexity in mid-2025

Resolution Criteria:

• Resolves YES if either company officially confirms they are in merger/acquisition talks before December 31, 2025

• Resolves NO if no such confirmation is made by December 31, 2025

• The confirmation must come from official company sources (press release, SEC filing, executive statement)

• Unconfirmed reports or rumors do not count for a YES resolution