Polymarket Founder Drops POLY Token Trail After $2 Billion Investment from NYSE Parent Company

Coplan hinted at $POLY in a cryptic X post replacing XRP in the top five list with the token symbol and a thinking emoji.

Shayne Coplan, who founded cryptocurrency prediction platform Polymarket, wrote a cryptic post on October 8 that seemed like there could be a native POLY token in the works.

This hint comes shortly after Intercontinental Exchange (ICE), owner of the New York Stock Exchange (NYSE), said it will invest $2 billion in Coplan’s company, bringing its total value to $9 billion.

A cryptic clue

The timing of Coplan’s breakthrough has raised eyebrows across crypto circles. Its publication was made in response to analyst Nairolf’s assessment that BNB Smart Chain (BSC) had surpassed Solana (SOL) and Ethereum (ETH) in mindshare, and Polymarket had secured fifth place overall in mindshare, ranking as the number one application on the market.

The Polymarket CEO then quoted Nairolf’s tweet, listing the top cryptocurrencies by market capitalization, including Bitcoin (BTC), ETH, BNB, and SOL. However, it omitted the fourth-largest non-stable asset, XRP, replacing it in the list with “$POLY” and adding a thinking face emoji for eerie effect.

The mention of POLY sparked numerous responses on X, with crypto commentators divided between hopeful and skeptical. The platform’s CMO, Matthew Modabber, weighed in and said, “They weren’t prepared for this boss.”

Meanwhile, journalist Laura Shin expressed curiosity and wrote: “Who is the new currency?” At the same time, user Mtn Drew warned against “utility tokens” and instead demanded that Coplan come up with a model that would allow users to “own Polymarket.”

Hyperliquid pseudonymous enthusiast HyperProphet speculated that POLY’s introduction could “easily transition to PumpFun” if the platform allowed creators to launch their own submarkets, such as “PolyStars,” earning fees for user activity.

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$2B ICE Deal Raises Polymarket Valuation to $9B

POLY token speculation followed ICE’s confirmation of its multi-million dollar investment in Polymarket, which now pegs its valuation at $9 billion. It also made Coplan the “youngest self-made billionaire,” according to Bloomberg.

Founded in 2020, Polymarket has since claimed a large share of the prediction markets, recording nearly $19 billion in cumulative trading volume and a 90% success rate in event outcomes. In November of last year, the founder’s Manhattan apartment was raided by FBI agents who demanded access to his phone and devices, shortly after the platform correctly predicted that Donald Trump would beat Kamala Harris with a 58.6% chance.

ICE’s entry into the crypto prediction space is one of the biggest moves by a TradFi company into decentralized markets yet. The investment comes after two rounds of funding for Polymarket that were not previously made public, including a $150 million raise in early 2025 led by Founders Fund, which valued the company at $1.2 billion.