X @Ansem

Company Overview - Polymarket's founder, Shayne Coplan, identified an opportunity in prediction markets, linking money and opinions to uncover truth [1] - The platform gained traction during the 2020 pandemic due to misinformation and distrust in traditional media [1] - Polymarket faced regulatory challenges, including a $1.4 million fine from the CFTC and a ban on US users, but expanded internationally [2] - The platform accurately predicted the 2024 election outcome, leading to mainstream attention and subsequent FBI investigation [2] Funding and Valuation - Polymarket secured a $4 million seed round with backing from Polychain and Naval Ravikant [2] - The company raised $2 billion in funding, achieving a $9 billion valuation [3] - NYSE made a strategic investment into Polymarket [3] Market Performance and Impact - Polymarket achieved $1.3 million in volume in a single day during the 2020 election [2] - The platform saw $3.2 billion in election volume in 2024 [2] - Polymarket's success led to its recognition in mainstream media and popular culture, including being featured on South Park [2][3] Regulatory Landscape - Polymarket initially faced regulatory hurdles, including a fine and user restrictions [2] - The company later received CFTC approval and returned to the US market [3]