Investigative Journalist Challenges Polymarket's Origin Story, Links Platform to Peter Thiel and Israeli Crypto Connections

According to investigative journalist Whitney Webb, Polymarket's official founding narrative claiming founder Shayne Coplan independently launched the company in 2020 is inaccurate. Webb traces the platform's origins to an earlier company called TokenBnk and alleges connections to a cryptocurrency firm founded by relatives of Israeli Prime Minister Benjamin Netanyahu.

Webb further argues that Polymarket essentially serves as a private revival of the Pentagon's controversial early project Policy Analysis Market (PAM), spearheaded by venture capitalist Peter Thiel and his associates. The original PAM initiative was canceled due to controversy.