This 26-year-old CEO once ran a crypto betting site from his bathroom

Last updated:07 Nov 2024, 16:56 IST

Shayne Coplan began his journey with Polymarket in a bathroom-like setup. He shared a throwback photo on his X account.

Polymarket gained attention by allowing users to place bets on US election predictions. (Photo credits: X)

It’s not very often that you hear of a thriving business that started in a bathroom. But it was exactly here that Shayne Coplan, a 26-year-old entrepreneur based in New York, began his journey with Polymarket. It’s a crypto-betting platform that’s now making waves, especially in the heated US election race of 2024. The entrepreneur recently shared a throwback moment when his office was, well, a bathroom.

Shayne Coplan shared a post on X (formerly Twitter) reflecting on his company’s very humble beginnings. “2020, running out of money, solo founder, HQ in my temporary bathroom office. little did I know Polymarket would change the world,” Coplan wrote alongside a photo from four years ago.

The photo showed a small bathroom with a laptop propped up on a white laundry basket, a sight that highlights the struggles of starting a business from scratch.

See his post here:

Today, Polymarket is a major player in the world of crypto betting, offering a platform for users to bet on events, including high-stakes political outcomes.

Now, with the 2024 US presidential election season, Polymarket has gained massive attention for letting users bet on election predictions, giving it a front-row seat in the political drama.

Polymarket’s rise has not gone unnoticed by some big names. The platform is reportedly backed by high-profile investors, including Peter Thiel’s Founders Fund and Ethereum co-founder Vitalik Buterin. Over the years, online election betting sites such as Polymarket have grown in popularity, especially during the final weeks of presidential elections. As polls showed a close race, players flocked to these platforms, especially with the changing odds surrounding Donald Trump.

“Make no mistake, Polymarket singlehandedly called the election before anything else. The global truth machine is here, powered by the people,” Coplan proudly stated in another post.

Before this, he had also announced that it was the polymarket that alerted Trump’s campaign headquarters to his victory. “Just got word that Trump campaign HQ literally found out they won from Polymarket. History was made today. Surreal,” he wrote in an earlier X post yesterday.

As for the latest US election, Trump, 78, won a landslide victory, securing the White House and defeating Kamala Harris.

This election was unlike any other, with political drama, assassination attempts and surprise twists, including Biden’s unexpected withdrawal, which made room for Harris to enter the race. Trump’s victory didn’t just shock the nation; it also highlighted his ties with influential figures such as Elon Musk, currently the world’s richest man.