Polymarket's $2B Deal with ICE Changes Everything | Weekly Roundup

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Oct 10, 2025

Discover the implications of Polymarket's $2B deal with ICE and its influence on prediction markets. Delve into the evolving world of stablecoins as the duopoly erodes, and explore who might rise to lead. The hosts also consider whether it’s the season for BNB, examining recent activity and competition among chains. Plus, tune in for insights on potential breakout consumer crypto apps and the future of tokenization in equities. Get ready for an engaging discussion packed with insights!

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ANECDOTE

Early Backing And Founder Obsession

Rob and Santi describe backing Shane and Polymarket from early rounds through regulatory and cash crises.
Shane's relentless focus and vision to create a market for everything kept the company alive through setbacks.

ANECDOTE

Revisiting Theses Led To Polymarket

Santi recounts early Polymarket rounds and context, noting timing around elections and media attention.
He emphasizes revisiting theses: failed earlier attempts (Augur) didn't invalidate the category as tech and timing changed.

ADVICE

Evangelize Your Vision Relentlessly

Be the evangelist for your company and tell a vivid story that attracts talent and investors.
Hire top people and make them believers in your vision to build momentum.

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This week we discuss Polymarket's $2B deal with ICE and how it impacts the future of prediction markets. We then deep dive into the stablecoin duopoly, advice for founders, is it BNB season, crypto's next breakout consumer app & more. Enjoy!

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Timestamps:

(00:00) Intro

(04:04) ICE Invests $2b In Polymarket

(14:32) Ads (Blockdaemon, Peaq)

(15:43) Advice For Founders

(22:50) How Does Polymarket’s $2b Raise Impact Kalshi?

(27:53) Ads (Blockdaemon, Peaq)

(29:04) The Stablecoin Duopoly Is Ending

(44:16) Ad (Katana Geodnet)

(45:42) Is It BNB Season?

(55:06) Privacy Coins

(57:13) Finding The Next Breakout Consumer App

(01:02:25) The Government Shutdown

(01:04:31) Content of The Week

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.