Polymarket CEO hints at POLY token after $2B ICE backing – Details

Key Takeaways

What is the POLY token, and what role could it play?

POLY is expected to support governance, liquidity, and user rewards, potentially becoming one of the largest tokens.

Did the POLY token affect other cryptocurrencies?

Coplan’s data briefly nudged XRP from the fourth-largest spot, likely due to a dataset quirk.

Polymarket is once again in the spotlight. This time, fueled by its founder Shayne Coplan after he was recently hailed by Bloomberg as the “youngest self-made billionaire.”

That’s not all, though. In fact, Coplan has stirred excitement in the crypto-community by hinting at the launch of a native token for the widely used predictions platform.

Is a token being teased?

In a post on X (formerly Twitter), he suggested that the proposed POLY token could rise to become one of the largest in terms of market capitalization.

He said, 

Source: Shayne Coplan/X

Recent data shared by Coplan appeared to have nudged XRP out of its spot as the fourth-largest freely traded crypto asset. However, this shift may simply reflect a quirk in the Kaito dataset he referenced.

Looking ahead, the potential POLY token is expected to play a central role on the platform. It would underpin governance, while providing liquidity incentives and rewarding users for participation.

Celebrating this news, an X user noted, 

“Polymarket can easily flip PumpFun just by adding opportunity to create their own poylemarkets with different name ( Example PolyStars).”

Polymarket’s funding rounds

Recent revelations highlight two previously undisclosed funding rounds for Polymarket over the past two years. The most notable was a $150 million raise in 2025 led by Founders Fund, valuing the predictions platform at $1.2 billion.

Polymarket’s momentum accelerated following a major investment deal with Intercontinental Exchange (ICE), the parent company of the NYSE. ICE committed up to $2 billion at a post-money valuation of $9 billion – A hike from its previous $8 billion estimate.

Now, although the idea of a native token isn’t new, Polymarket hinted at a possible airdrop for users who redeemed winning bets last November. This fueled a lot of speculation about a POLY token launch.

Despite notable achievements, including accurately forecasting the 2024 U.S. elections and navigating regulatory hurdles, the platform continues to face strong competition from Kalshi.

This will continue to cast uncertainty over its long-term growth outlook.