(Bloomberg) — A couple of years after dropping out of New York University with dreams of making it big in crypto, Shayne Coplan was so broke that he took an inventory of his Lower East Side apartment so that he could sell belongings to make rent.

Fed up with crypto grifts, in 2019 he started to explore economist Robin Hanson’s ideas on prediction markets and their potential for improving society’s ability to identify likely outcomes.

“This is too good of an idea to just exist in whitepapers,” he recalled thinking in a later post on X. Then Covid struck — the perfect time to develop an app for stuck-at-home folks to bet on real-world outcomes, he reasoned. He began building Polymarket from his bathroom and launched the platform in June 2020.

It wasn’t a smooth road. The company’s move-fa

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