Synopsis– Shayne Coplan, founder of Polymarket, has become the youngest self-made billionaire at 27, according to Bloomberg’s Billionaires Index. His fortune surged after Intercontinental Exchange (ICE), owner of the New York Stock Exchange, announced up to $2 billion in funding for his prediction market platform. The deal values Polymarket at $8 billion before investment, propelling Coplan’s net worth past the billion-dollar mark.
Born in 1998 in New York City, Coplan dropped out of New York University and faced financial hardship. At one point, he sold his belongings to pay rent. Inspired by economist Robin Hanson’s ideas on prediction markets, Coplan envisioned a global platform for betting on real-world outcomes.
From Startup Struggles to Global Platform
In June 2020, Coplan launched Polymarket amid the COVID-19 pandemic. He saw lockdowns as an ideal moment to introduce a product where people could bet on events like elections or sports. Operating on blockchain technology, Polymarket quickly grew but faced regulatory hurdles, with U.S. users banned for years due to compliance issues.
Despite restrictions, the platform became a global success, drawing $3 billion in wagers during the 2024 U.S. presidential election alone. That performance cemented its reputation as a reliable prediction tool, often outperforming polls in forecasting outcomes. Coplan kept building the platform while avoiding reliance on family wealth, embodying the self-made ethos.
ICE Investment
ICE’s investment marks a turning point for Polymarket. With a market cap exceeding $90 billion, ICE brings an unmatched level of institutional credibility to the blockchain-based platform. The partnership enables ICE to distribute Polymarket’s event-driven data globally and explore tokenization projects blending traditional finance with the blockchain world.
This collaboration positions Polymarket closer to mainstream finance. Coplan described it as a big step toward integrating prediction markets into major financial systems. Both parties aim to create products appealing to institutional clients and everyday investors, potentially expanding into corporate risk forecasting or insurance-related prediction tools.
How Polymarket Uses Crypto
Polymarket runs entirely on blockchain infrastructure, using Polygon, a layer-2 scaling network for Ethereum. Users connect through crypto wallets and trade with USDC, a stablecoin pegged to the U.S. dollar.
This removes middlemen, enables instant settlement, and allows 24/7 global access to event-based markets. By leveraging cryptocurrency and smart contracts, Polymarket ensures transparency, security, and verifiable outcomes without relying on traditional payment systems.
Industry Growth and Coplan’s Vision
The prediction market industry is projected to reach $8 billion in revenue by 2030, with sports betting driving much of the expansion. Coplan plans to use ICE’s backing to relaunch Polymarket in the U.S., scale operations, and deepen transparency in event-based trading. He believes blockchain-driven markets can significantly improve society’s ability to assess likely outcomes.
From working in a cramped apartment with a laptop on a laundry basket to leading a billion-dollar platform, Coplan’s journey reflects perseverance in the high-risk world of crypto entrepreneurship. His story shows how vision, combined with strategic partnerships, can transform industries. With the ICE deal secured, Polymarket is set to disrupt finance further, bridging innovation and tradition against all odds.
Written By Fazal Ul Vahab C H
