It’s possible. But as good as it sounds, I strongly recommend against doing it. Duplicating SIM cards, along with their Ki and IMSI numbers, allow you to use data, calling and texting from the plan on the original SIM card. However, this is outlawed in many places and can get you banned from the carrier for life at the very least (criminal charges likely). In addition, most carriers in the first world have systems in place that detect duplicate SIMs, so you’d be caught pretty quickly.
I don’t advocate it, but a teenager tried and was successful.
The gist is he changed the extension to /speedtest and it tricked the network to allow him to access sites on a prepaid phone. Smart guy, but T-Mobile likely fixed this exploit.
I’m sure there are other exploits out there; that’s why we have regular updates from the powers that be. But as long as we have security measures, there will always be people who try to avert those measures for personal or financial gain. Many companies hire hackers to make their software even more secure. Some hackers solve crimes. If you can find a way, I hope you use it for good.