Svmuu News: Investigative journalist Whitney Webb has published a series of investigative articles on Polymarket’s origins and growth ambitions, casting doubt on the company’s official founding narrative.
Whitney Webb stated that Polymarket’s official claim—that “Shayne Coplan founded the company single-handedly in 2020 and launched it from his bathroom”—is not true. She believes that Polymarket’s origins can be traced back to an earlier company, TokenBnk, and that it is linked to a crypto firm founded by the nephew and niece of Israeli Prime Minister Netanyahu.
Webb also stated that Polymarket is essentially the result of an attempt by Peter Thiel and his team to revive the Pentagon’s controversial early-stage project, the Policy Analysis Market (PAM). That project was previously canceled due to controversy, and Polymarket can be viewed as its “privatized, reborn version.”