Shayne Coplan, founder and CEO of the blockchain-based prediction market, has become the world’s youngest self-made billionaire, according to the Bloomberg Billionaires Index.
The milestone follows InterContinental Exchange (ICE), which on Tuesday announces that it would invest as much as $ 2 billion in the company for a $ 8 billion valuation. ICE owns New York Stock Exchange, one of the world’s most powerful financial institutions.
Coplan, now 27, launched the Polymarket in June 2020 after spending a year studying how prediction markets could improve decision making. The platform allows users to focus on results in the real world, from choice to sports to economic indicators using cryptocurrency.
Polymarket’s breakout moment came during the US presidential election in 2024, when users bet more than $ 3 billion on potential results. The scope of participation made Coplan’s idea of a nichekrypto experiment a global phenomenon.
But the increase was not without setbacks. By 2022, the polyming market paid a $ 1.4 million penalty to settle with the Commodity Futures Trading Commission (CFTC) over claims that it offers illegal trade. The company said it blocked us users shortly after, though the regulators later suspected it still hosted US dealers. One week after the 2024 election, the FBI agents attacked Coplan’s apartment. The Ministry of Justice fell the investigation in July, as did CFTC’s civilian investigation.
The same month, the polymarket QCEX, a CFTC-licensed exchange and clearing house, acquired, giving the legal reasons to operate in the United States. The move marked a sharp reversal from its early legislative problems to full legitimacy under US law.
The polyming field has since reshaped gaming and economic forecasts. By mixing blockchain transparency with the tension of market-driven prediction, it attracts both retail and institutional interest.
Rival platforms have noticed. Kalshi, another prediction market operator, began offering bets through a partnership with Robinhood Markets earlier this year.
