Polymarket Founder Drops POLY Token Hint After $2 Billion Investment by Parent Company NYSE

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

Shayne Coplan, the founder of crypto prediction platform Polymarket, wrote a cryptic post on October 8 that made it seem like a native POLY token might be in the works.

The 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 hint

The timing of Coplan’s teaser has attracted attention in cryptocurrency circles. His post was made in response to BNB Smart Chain (BSC) analyst Nairolf’s assessment surpassed both Solana (SOL) and Ethereum (ETH) in mindshare, and Polymarket had taken fifth place overall in mindshare, finishing as the number one app on the market.

Polymarket’s CEO then quoted Nairolf’s tweet: mention the top cryptocurrencies by market capitalization, including Bitcoin (BTC), ETH, BNB and SOL. However, he left out the fourth-largest non-stablecoin asset, XRP, and instead replaced it on the list with “$POLY” and added a thinking emoji for a mysterious effect.

The mention of POLY sparked numerous responses to X, with crypto commentators divided between hopeful and skeptical. The platform’s CMO, Matthew Modabber, intervened, saying, “They weren’t ready for this one chef.”

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

Pseudonymous Hyperliquid enthusiast HyperProphet speculated that the introduction of POLY PumpFun could “easily turn around” if the platform allowed creators to launch their own submarkets, such as “PolyStars,” earning fees from user activity.

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ICE’s $2 billion deal pushes Polymarket’s valuation to $9 billion

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

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

ICE’s entry into the crypto prediction space is one of the biggest moves by a TradFi company into decentralized markets to date. The investment comes after two previously undisclosed rounds of financing for Polymarket, including a $150 million raise in early 2025 led by the Founders Fund, which valued the company at $1.2 billion.