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Polymarket founder Shayne Coplan has fueled speculation in the crypto sector after hinting at a potential native token for the platform. In a brief post on X, Coplan listed major cryptocurrencies “$BTC, $ETH, $BNB, $SOL, $POLY,” suggesting a possible addition to the market’s leading digital assets.
Coplan’s post quickly gained attention among traders and analysts, who interpreted it as a signal that Polymarket might be preparing to launch a native POLY token. The 26-year-old entrepreneur, recently named Bloomberg’s youngest self-made billionaire, has not yet confirmed any details regarding the token’s purpose or timeline.
Polymarket has already demonstrated interest in the introduction of the new functionality that would reward active users. Towards the end of 2024, the platform published a message that mentioned the words future drops, causing premature discussion of a potential model of an airdrop or token incentive.
The official communication channels of the company, however, never affirmed it, and the users were advised to adhere to credible updates to avoid fraud.
The growing speculation comes shortly after the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, announced plans to invest up to $2 billion in Polymarket. The investment values the platform at $9 billion, significantly increasing its previous valuation of $1.2 billion after a $150 million round, also led by Founders Fund, earlier in the current year.
The rapid growth of Polymarket has attracted both institutional and retail investors. The investment by ICE will enhance the company's infrastructure and expand its on-chain data offerings to financial partners worldwide. The trend is also indicative of the growing overlap between conventional finance and blockchain-based prediction markets.
Coplan confirmed that Polymarket had raised $205 million across two funding rounds before the ICE announcement. The investors included Founders Fund, Ribbit Capital, Valour, Point72 Ventures, and Blockchain Capital. The company’s growth has positioned it among the most notable decentralized prediction platforms in the industry.
Also Read: Polymarket and X: The Future of Prediction Markets in Crypto
Polymarket was established in 2020 and is a decentralized prediction market where users can trade on the outcomes of real-world events, such as sports and elections. Recently, the platform was cleared by the US Commodity Futures Trading Commission (CFTC), which legalized its activities in the U.S. market.
Polymarket has completed nearly $ 19 billion in aggregate trading volumes, according to DeFiLlama data. Its victory is an indicator of the increasing mainstream adoption of prediction systems that can be driven by blockchain. Launching a POLY token, analysts believe, would enable governance features, liquidity incentives, or community rewards, thereby enhancing customer interaction.
Although no official announcement has been made, the ICE's substantial investment, combined with Coplan's cryptic post, has put Polymarket at the center of the new crypto buzz. The possibility of the POLY token has not been established yet, but excitement is still increasing among the digital asset community.
