Polymarket CEO says chasing 100x tokens is "irrational exuberance"

Polymarket CEO Shayne Coplan said the hunt for tokens that could rise 100x amounts to "irrational exuberance" and a "greater fool" game, with some traders simply trying to sell before prices fall to zero. He contrasted that behavior with activity on prediction markets, where he said Polymarket users tend to trade events with relatively more predictable odds rather than search for the next moonshot token. Coplan’s comments came as trading data showed Polymarket recorded $1.21 billion in prediction-market volume over the past seven days, while Kalshi posted $2.3 billion over the same period. The sector is also facing legal pressure. Several U.S. states have taken action over sports event contracts against Polymarket, Kalshi, or both, and multiple countries and regions have restricted or blocked access to Polymarket, according to the report cited by Cointelegraph.