"Polymarket has a simple premise: Markets are the best way to source truth. By giving users a stake in predicting literally everything, from the 2025 World Series Champion to when the government shutdown will end (both bets are currently available on its website), Polymarket aims to "harness the power of free markets to demystify real events that matter most to you," Coplan said in a post on X."
"On Tuesday, the New York Stock Exchange's parent company, Intercontinental Exchange, invested $2 billion cash in Polymarket, skyrocketing the company's valuation to $9 billion post investment and making CEO and founder Coplan a billionaire at the age of 27, according to the Bloomberg Billionaire Index. Through the partnership, the NYSE will distribute Polymarket's data and the two companies will work together on tokenization initiatives, according to a press release."
Shayne Coplan founded Polymarket after dropping out of New York University and launching the platform from his Lower East Side apartment. Intercontinental Exchange invested $2 billion, valuing Polymarket at $9 billion and making Coplan a billionaire at 27. The NYSE will distribute Polymarket data and collaborate on tokenization initiatives. Polymarket operates prediction markets where users buy shares that pay $1 for correct outcomes, using a U.S. dollar-backed stablecoin and an Ethereum-based blockchain. Users can buy, sell, or hold shares—prices reflect perceived probabilities. The platform offers markets on topics from sports to government events, and resembles earlier prediction markets like Intrade.
Read at Fortune
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