Shayne Coplan Named Youngest Self-Made Billionaire After $2B Polymarket Investment
Shayne Coplan, founder and CEO of Polymarket, has become the world's youngest self-made billionaire, as per the Bloomberg Billionaires Index.
- Intercontinental Exchange (ICE) plans to invest up to $2 billion in Polymarket, valuing it at $8 billion pre-money. ICE owns the New York Stock Exchange.
- Polymarket allows users to wager on real-world outcomes like elections and sports using cryptocurrency.
- During the 2024 U.S. presidential election, Polymarket saw over $3 billion in wagers, boosting its global recognition.
- In 2022, Polymarket paid a $1.4 million penalty to settle CFTC allegations of illegal trading and subsequently blocked U.S. users.
- The FBI raided Coplan’s apartment post-2024 election, but investigations were dropped in July.
- Polymarket acquired QCEX, gaining legal grounds to operate in the U.S., marking its shift to full legitimacy.
- Rival Kalshi has partnered with Robinhood Markets for prediction markets, showcasing growing competition.
Polymarket is reshaping gambling and financial forecasting by combining blockchain transparency with market-driven prediction.