TLDR
- Polymarket CEO Shane Copeland announced the company’s upcoming US launch through its recently acquired regulated exchange, QCX, expected in 2025
- The prediction market platform currently operates without fees, with Copeland stating “we don’t make money” as they prioritize market share growth
- Polymarket faces questions about offering sports betting in states where traditional sportsbooks are banned, with Copeland arguing derivatives should have “impartial access”
- Columbia professors recently published research suggesting 14-20% of trading volume involved wash trading, which Copeland dismissed as competitor-driven criticism
- The company plans to eventually charge trading fees and may pursue either a token launch or traditional IPO depending on US market growth
Polymarket CEO Shane Copeland revealed the prediction market platform is preparing to launch in the United States after acquiring a regulated derivatives exchange. The company has been beta testing the new US product and expects a public launch in 2025.
The 26-year-old founder told an Axios conference the exchange is already operational. He pointed to clearing house filings showing live trading volume as evidence. The US version will launch as a mobile-first product designed to simplify the prediction market experience.
Copeland started Polymarket in 2020 during the COVID-19 pandemic. He was 21 years old and running out of money in a Lower East Side apartment. The platform allows users to bet on event outcomes by trading yes and no shares that pay one dollar if correct.
The company has grown without charging trading fees. Copeland said this strategy aims to build market share quickly. He confirmed Polymarket will eventually take a cut of trading to generate revenue.
Sports Betting Raises Regulatory Questions
Polymarket’s entry into sports betting has created regulatory complications. Traditional sportsbooks like DraftKings and FanDuel cannot operate in states like California. Copeland argued Polymarket should be allowed because it operates as a derivatives exchange rather than a traditional sportsbook.
He criticized the current sports betting system as a “duopoly” that prevents new competition. Copeland said major sportsbooks operate as “bucket shops” that ban winning customers and adjust prices based on user profiles. He called this approach “rigged against the consumer.”
The CEO defended his platform’s structure where users trade against each other rather than against the house. He said this model follows derivatives regulations requiring “impartial access” for all Americans.
Blockchain Foundation Under Scrutiny
Polymarket built its platform on blockchain technology to enable global trading and transparency. Every trade is publicly visible on the blockchain. Copeland said this transparency helps identify suspicious trading patterns and insider information.
Columbia University professors recently published research claiming 14 to 20 percent of Polymarket’s trading volume involved wash trading. Copeland dismissed the findings as based on small numbers. He suggested competitors pitched the story to journalists.
The CEO acknowledged some users try to game the system expecting a future token launch. He said the company actively works to crack down on such behavior. The blockchain structure makes it easier to audit suspicious accounts.
Token Plans and Going Public
Copeland confirmed a Polymarket token remains under consideration but clarified US launch comes first. Company representatives had previously suggested a token with a specific name was in development. The CEO said he corrected those statements.
He explained the company faces a choice between launching a token or pursuing a traditional IPO. The decision depends on growth in the US market. Copeland said both options remain on the table after five and a half years of operation.
The platform raised significant venture capital but Copeland declined to discuss specific valuation. He emphasized the importance of building sustainable market infrastructure over quick profits.
Google CEO Highlights Platform’s Use
Google CEO Sundar Pichai retweeted a Polymarket prediction about the Gemini 3 launch date. The market correctly predicted the announcement timing. Copeland said such markets create financial incentives for people with inside knowledge to share information.
He addressed concerns about insider trading on these markets. Copeland noted users understand some participants likely know the actual answers. These markets typically have lower liquidity and wider spreads than major political or news events.
The CEO said open source intelligence enthusiasts now use Polymarket for real-time geopolitical information. He cited examples of people in conflict zones checking the platform for faster updates than traditional news sources. This fulfilled his vision of prediction markets as decision-making tools.
