In a landmark deal, the blockchain-based prediction market Polymarket has raised $2 billion at a staggering $9 billion valuation, making its 26-year-old founder, Shayne Coplan, a billionaire.

Left: A 2020 post from Shayne Coplan, Almost no money, solo founder, headquarters in the bathroom. Right: Coplan at the New York Stock Exchange in 2025.

Left: A 2020 post from Shayne Coplan, Almost no money, solo founder, headquarters in the bathroom. Right: Coplan at the New York Stock Exchange in 2025.

The Nine-Billion-Dollar Deal

According to PitchBook data, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, invested $2 billion for a 20% stake. This catapults Polymarket's valuation from $1.2 billion in early 2025 to $9 billion. Forbes reports that Coplan's 11% stake is now worth at least $1 billion, solidifying his status as the world's youngest self-made billionaire.

What is Polymarket?

Polymarket is a platform where users can bet on the outcomes of real-world events, from political elections and business deals to the likelihood of natural disasters. Key highlights include:

Surging Popularity: The platform gained massive traction during the 2024 U.S. presidential election, with betting volumes peaking at $85 million.
Unclear Revenue Model: Polymarket currently doesn't charge trading fees. However, following the new investment, Coplan has hinted at the potential launch of a native $POLY token.

From Bathroom HQ to Wall Street

Coplan launched the startup from his New York apartment in March 2020 during the pandemic. The company's funding journey has been nothing short of explosive, attracting a slate of high-profile investors from its earliest days.

Initial backers included Ethereum creator Vitalik Buterin and Airbnb co-founder Joe Gebbia. Later rounds saw participation from Figma co-founder Dylan Field and Uber founder Travis Kalanick.

Polymarket has successfully transformed prediction markets from an experiment into a mainstream cultural phenomenon.
Haseeb Qureshi, Managing Partner at Dragonfly & early investor

Overcoming Regulatory Challenges

The journey wasn't without its hurdles. In January 2022, the Commodity Futures Trading Commission (CFTC) fined Polymarket $1.4 million for offering unregistered markets and required it to block U.S. users.

However, by July 2025, the CFTC and the Department of Justice had dropped their investigations amid a softer regulatory stance on crypto. Subsequently, Donald Trump Jr.'s investment fund backed the company, and he joined its advisory board.

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