Polymarket Founder Drops POLY Token Hint After $2B Investment From NYSE Parent Company
Shayne Coplan, who based the crypto prediction platform Polymarket, wrote a cryptic publish on October 8 that made it sound like there could be a local POLY token within the works.
This trace comes quickly after Intercontinental Exchange (ICE), which owns the New York Stock Exchange (NYSE), said it would make investments $2 billion in Coplan’s firm, bringing its complete worth to $9 billion.
A Cryptic Hint
The timing of Coplan’s teaser has caught consideration throughout crypto circles. His publish was made in response to analyst Nairolf’s evaluation that the BNB Smart Chain (BSC) had surpassed each Solana (SOL) and Ethereum (ETH) in mindshare, and Polymarket had secured fifth place general in mindshare, rating as the primary app out there.
The Polymarket CEO then quoted Nairolf’s tweet, listing the highest cryptocurrencies by market capitalization, together with Bitcoin (BTC), ETH, BNB, and SOL. However, he omitted the fourth-largest non-stablecoin asset, XRP, as an alternative changing it on the record with “$POLY” and including a pondering face emoji for mysterious impact.
The point out of POLY sparked quite a few responses on X, with crypto commentators divided between being hopeful and skeptical. The platform’s CMO Matthew Modabber chipped in, saying, “They weren’t prepared for this one chief.”
Meanwhile, journalist Laura Shin expressed curiosity, writing, “Who dis, new coin?”. At the identical time, consumer Mtn Drew warned in opposition to “utility tokens,” as an alternative demanding that Coplan take into consideration a mannequin that might permit customers to “personal Polymarket.”
Pseudonymous Hyperliquid fanatic HyperProphet speculated that introducing POLY might “simply flip PumpFun” if the platform allowed creators to launch their very own sub-markets, akin to “PolyStars,” incomes charges from consumer exercise.
ICE’s $2B Deal Pushes Polymarket’s Valuation to $9 Billion
The POLY token hypothesis adopted ICE’s affirmation of its multibillion-dollar funding in Polymarket, which now pegs its valuation at $9 billion. It additionally made Coplan the “youngest self-made billionaire,” in line with Bloomberg.
Founded in 2020, Polymarket has since laid declare to an enormous chunk of the prediction markets, recording almost $19 billion in cumulative buying and selling quantity and a 90% success rate on occasion outcomes. In November final yr, the founder’s Manhattan condominium was raided by FBI brokers who demanded entry to his cellphone and units, shortly after the platform accurately forecasted Donald Trump beating Kamala Harris with 58.6% odds.
ICE’s entry into the crypto prediction house is likely one of the greatest strikes by a TradFi firm into decentralized markets to date. The funding comes after two rounds of funding for Polymarket that weren’t made public earlier than, together with a $150 million elevate in early 2025 led by Founders Fund, which valued the enterprise at $1.2 billion.
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