Why the New York Stock Exchange just crowned a Gen Z billionaire: Shayne Coplan figured out a society that gambles on everything

Core Insights - Polymarket has become a significant player in the prediction market space, recently achieving a valuation of $9 billion following a $2 billion investment from Intercontinental Exchange, making its founder Shayne Coplan the youngest self-made billionaire at age 27 [2][8] - The platform allows users to bet on various outcomes, leveraging a blockchain-based system and a U.S. dollar-backed stablecoin to facilitate transactions [4][3] - Polymarket has successfully attracted a younger demographic, particularly Gen Z, by capitalizing on pandemic-era trends and a more favorable regulatory environment [5][7] Company Overview - Polymarket operates on the premise that markets can effectively source truth by allowing users to predict outcomes on a wide range of events [3] - The platform matches users with opposing bets and pays out based on the accuracy of their predictions, creating a dynamic betting environment [4] - The company has previously faced regulatory challenges, including a $1.4 million fine and a temporary ban in the U.S., but has since resolved these issues and returned to the market [7][8] Market Dynamics - The prediction market industry has seen fluctuations, with previous platforms like Intrade gaining attention for their predictive success before shutting down [5] - Polymarket has distinguished itself by offering a more user-friendly platform and engaging younger users, which has contributed to its growth and success [5][6] - The recent investment from the NYSE's parent company signifies a growing interest in the potential of prediction markets and their role in the financial ecosystem [2][9]