Scammers, start your engines
I expect about 98% of the new offerings to be designed from the get go as a scam, but people will happily give their money anyway because they'll hope to become rich. After a few well publicized examples and demands that "someone should do something" the SEC will put rules in place that make it pretty similar to participating in the IPO market (which has fewer scams simply because the paperwork puts off scammers who are by nature rather lazy otherwise they'd try to earn their money instead of stealing from others)