Polymarket is one of the two biggest prediction market operators in the world, alongside Kalshi. Prediction markets have taken the betting industry by storm in recent months (and for over a year now).
While many argue that prediction markets are not a form of gambling or sports betting, most will tell you that's exactly what they are. But loopholes in worldwide (and particularly US) regulation have allowed prediction markets to be governed by financial regulators such as the US Commodity Futures Trading Commission, rather than gambling regulators themselves.
There has been no shortage of controversy regarding prediction markets – and particularly Polymarket, which has attracted far more stories regarding unethical markets and insider trading.
There is no denying, however, that Polymarket has taken the business world by storm. Led by its young CEO Shayne Coplan (born in June 1998), it now commands a market valuation of around $15bn.
Traditional sports betting brands, such as FanDuel, have seen the market capitalization of their parent companies (Flutter Entertainment in this case) shrink considerably by comparison. Polymarket competitor Kalshi is valued at around $22bn.
