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Polymarket Founder Sparks Token Launch Speculation with POLY Post

Polymarket Founder Sparks Token Launch Speculation with POLY Post

Prediction platform receives $2 billion investment from NYSE owner.

CEO Polymarket, Shayne Coplan, posted a brief message featuring the ticker POLY. Community members speculated that the founder of the prediction platform hinted at a potential token launch.

“Is this confirmation of the coin release?” — asked the team from the domain name service Unstoppable Domains.

In September, Polymarket’s parent company, Blockratize, filed documents with the SEC, revealing the existence of “additional warrants” in its latest funding round. This move reminded users of similar actions by the decentralized exchange dYdX, which preceded the release of the DYDX token.

The Youngest Billionaire

Prior to the publication about the potential Polymarket token launch, Bloomberg included Coplan in its list of billionaires.

Earlier, rumors circulated in the media that the owner of the NYSE — Intercontinental Exchange — planned to invest $2 billion in the prediction platform. On October 7, Coplan confirmed the information. As a result, the project’s valuation reached $9 billion.

Thanks to the deal, the creator of Polymarket became the youngest self-made billionaire.

Coplan launched the platform in 2020 at the age of 21, after dropping out of New York University.

“At the start of the pandemic, I had nothing to lose: 21 years old, running out of money, with two and a half years post-dropout and no achievements. It was then I realized: we are entering an era where ways of establishing truth will become paramount,” he shared.

The future billionaire mentioned that he often worked on the project while sitting in his apartment’s bathroom. The idea to create Polymarket came after becoming acquainted with the works of economist Robin Hanson, one of the first academic researchers in the field of prediction markets.

Coplan also revealed two previously unknown funding rounds. In the latest round, the platform raised $150 million led by Founders Fund.

In July, Polymarket announced expanded access for U.S. users following the resolution of disputes with American regulators. The platform acquired the derivatives exchange QCEX for $112 million, licensed by the CFTC.

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