1Whole genome duplication (WGD) has occurred in relatively few sexually reproducing 2 invertebrates. Consequently, the WGD that occurred in the common ancestor of horseshoe 3 crabs ~135 million years ago provides a rare opportunity to decipher the evolutionary 4 consequences of a duplicated invertebrate genome. Here, we present a high-quality genome 5 assembly for the mangrove horseshoe crab Carcinoscorpius rotundicauda (1.7Gb, N50 = 6 90.2Mb, with 89.8% sequences anchored to 16 pseudomolecules, 2n = 32), and a 7 resequenced genome of the tri-spine horseshoe crab Tachypleus tridentatus (1.7Gb, N50 = 8 109.7Mb). Analyses of gene families, microRNAs, and synteny show that horseshoe crabs 9 have undergone three rounds (3R) of WGD, and that these WGD events are shared with 10 spiders. Comparison of the genomes of C. rotundicauda and T. tridentatus populations from 11 several geographic locations further elucidates the diverse fates of both coding and noncoding 12 genes. Together, the present study represents a cornerstone for a better understanding of the 13 consequences of invertebrate WGD events on evolutionary fates of genes and microRNAs at 14 individual and population levels, and highlights the genetic diversity with practical values for 15 breeding programs and conservation of horseshoe crabs.16 17