US Traders Flock to an Election-Betting Site They're Banned From
- Wagers on US elections approach $1 billion according to site
- Users can resort to virtual private networks to evade blockade
This article is for subscribers only.
On the top floor of a luxe hotel outside the Republican National Convention, amid a coterie of neatly coiffed GOP operatives in tailored suits, one person stood out in his dark T-shirt and a mop of curly hair.
That was Polymarket’s Shayne Coplan. The 26-year-old college dropout was introducing himself as the force behind the crypto-betting platform, which takes wagers on everything from election winners to whether the US will confirm the existence of aliens. At one point, Coplan’s schmoozing got him a seat next to Donald Trump Jr.