Polymarket CEO Shayne Coplan hinted at a potential token launch at Token2049, telling the audience he has "a little something to say." The tease arrived after Polymarket generated nearly $10 million in revenue over the weekend—significantly outpacing decentralized derivatives exchange Hyperliquid, which recorded $2.6 million in the same period.
The revenue gap matters: Hyperliquid's native HYPE token commands an $86 billion fully diluted valuation. Social media users immediately speculated on a Polymarket token, with "POLY" floated as a potential ticker.
Coplan will participate in a fireside chat with Balaji Srinivasan, founder of the Network State and former Coinbase executive, at Token2049 Singapore on Oct. 7 and Oct. 8 at Marina Bay Sands. The event sold out with 25,000 attendees from 160 countries across 250 speakers and 500 exhibitors.
Polymarket faces regulatory pressure. U.K. Members of Parliament raised concerns after the platform offered bets on the failure of banks HSBC and Lloyds, despite Polymarket's unavailability in the United Kingdom. A U.S. insider trading investigation expanded last week to include prediction markets, probing Hyperliquid, Crypto.com and Aristotle Exchange. Republican House Oversight Committee member James Comer oversees the investigation, which follows an earlier insider trading probe from May focused on Kalshi and Polymarket.
