Chasing 100x tokens is game of ‘irrational exuberance,’ says Polymarket CEO
Summary
Polymarket CEO Shayne Coplan said crypto traders chasing potential 100x altcoins are playing an “irrational exuberance” game: rapid gains can be followed by sharp declines, and identifying winners is difficult. He said prediction markets offer more bounded, odds-based wagers for traders seeking greater predictability. DefiLlama data put Polymarket’s weekly prediction volume at $1.21 billion, behind Kalshi’s $2.3 billion. Prediction markets are drawing regulatory scrutiny: more than a dozen US states have acted against Polymarket, Kalshi, or both over sports contracts, and some countries have restricted Polymarket.
