Meet the 27-year-old, youngest, self-made billionaire whose ‘prediction’ company got $2 billion from NYSE’s parent
Shayne Coplan founded Polymarket in his home on New York’s Lower East Side during the pandemic in June 2020. According to the Bloomberg report, the inspiration came from economist Robin Hanson’s ideas about prediction markets and their ability to improve society.
Now, in October 2025, the 27-year-old has become the youngest self-made billionaire after his company raised $2 billion in funding from Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE). The deal brings Polymarket’s pre-money valuation to $8 billion.
It was stated that a Polymarket spokesman declined to comment.
What is Polimarket? Who is Shayne Coplan?
Polymarket is a prediction market that allows users to bet on the outcomes of a range of events, such as elections, Fed rate cuts, the cover of Time magazine, winners of sporting events and more.
Shayne Coplan, who left New York University, managed to enter the Bloomberg Billionaires Index (BBI) this week. While dabbling in crypto in 2019, he thought Hanson’s ideas were “too good to be included in whitepapers.”
Then, during COVID-19, Coplan felt that the 2020 shutdown was the perfect time to develop an app where homebound people could bet on real-world outcomes. But the road was rocky.
Why was Polymarket controversial?
The company had a “build first, ask permission later” method that misled regulators – Polymarket was banned from operating in the US; Following the 2024 US Presidential elections, Coplan’s apartment was raided by FBI agents. Ploymarket users in particular are betting over $3 billion on the outcome of the US elections.
Polymarket suffered a major setback in 2022 when it paid a $1.4 million penalty to settle with the CFTC over allegations that it offered illegal trading. The company agreed to block US-based users going forward, without admitting or denying wrongdoing.
But regulators suspected Polymarket was continuing to host U.S. users on the site, and in November, a week after Election Day, FBI agents raided Coplan’s home before dawn and seized electronic devices. The company called the move “clear political revenge.”
The Justice Department and CFTC dropped their investigations in July. That same month, Polymarket purchased CFTC-licensed exchange and clearing house QCEX for $112 million, allowing it to legally continue its U.S. operations.
The company raised at least $255 million before ICE’s investment, according to data tracked by Pitchbook. Investors include Peter Thiel and the Founders Fund, Ethereum founder Vitalik Buterin and investment firm Blockchain Capital.
Another important supporter was 1789 Capital, which invested in Polymarket before the 2024 elections and again this year. As part of that deal, President Donald Trump’s son and 1789 partner Donald Trump Jr. joined the company as an advisor in August. He also gives advice to Kalshi.
The company’s ties to Washington could deepen with its ICE investment. Jeffrey Sprecher, ICE’s CEO, is married to Kelly Loeffler, a former senator who heads the Small Business Administration and a member of Trump’s cabinet.
(With input from Bloomberg)
