Meet the 27-year-old, youngest, self-made billionaire whose ‘prediction’ company got $2 billion from NYSE's parent

Core Insights - Polymarket, founded by Shayne Coplan in June 2020, has achieved a pre-money valuation of $8 billion following a $2 billion investment from Intercontinental Exchange Inc., making Coplan the youngest self-made billionaire according to Bloomberg [2][5]. Company Overview - Polymarket was inspired by economist Robin Hanson's ideas on prediction markets, aiming to enhance society's ability to predict outcomes [3]. - The platform allows users to bet on various events, including elections and economic indicators, and has gained popularity for sports wagering [6][7]. Funding and Valuation - The recent investment from Intercontinental Exchange Inc. significantly boosted Polymarket's valuation to $8 billion [2][5]. - Prior to this investment, Polymarket raised at least $255 million from various investors, including notable figures like Peter Thiel and Vitalik Buterin [11]. Regulatory Challenges - Polymarket faced regulatory hurdles, including a $1.4 million penalty from the CFTC in 2022 for offering illegal trading, which led to a ban on US-based users [9]. - The company was investigated by the FBI, which raided Coplan's home in November 2024, but the investigations were dropped in July 2025 [10][11]. Strategic Moves - In July 2025, Polymarket acquired CFTC-licensed exchange QCEX for $112 million, allowing it to resume US operations legally [11]. - The company's connections to political figures may strengthen with the ICE investment, as ICE's CEO is linked to former Senator Kelly Loeffler [12].