Chasing 100x tokens is game of ‘irrational exuberance,’ says Polymarket CEO

What happened: Polymarket CEO Shayne Coplan said at Token2049 Singapore that traders chasing 100x tokens are playing a game of "irrational exuberance" and "hot potato," and that some are turning to prediction markets for more predictable odds. Key numbers: Polymarket logged $1.21 billion in prediction volume over the past seven days, per DefiLlama. Why it matters: Coplan said Polymarket's growing adoption signals demand for wagers with more predictable odds. Prediction markets face rising US regulatory scrutiny, and JPMorgan reportedly ended a banking relationship with Polymarket on Aug. 14.

Polymarket CEO Shayne Coplan said at Token2049 Singapore that traders chasing 100x tokens are playing a game of "irrational exuberance" and "hot potato," and that some are turning to prediction markets for more predictable odds.

Coplan said Polymarket's growing adoption signals demand for wagers with more predictable odds. Prediction markets face rising US regulatory scrutiny, and JPMorgan reportedly ended a banking relationship with Polymarket on Aug. 14.