Intercontinental Exchange Nears $2B Investment in Polymarket Valued $8B-$10B

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is nearing a $2 billion investment deal in Polymarket, a leading crypto prediction market platform. This investment could value Polymarket between $8 billion and $10 billion and is expected to help the platform re-enter the U.S. market after regulatory hurdles, with recent approval from the Commodity Futures Trading Commission allowing it to operate in the U.S. market again. Polymarket has seen significant traction, including over $2 billion in trading volume for its 2024 presidential election markets despite past U.S. user restrictions. The deal reflects growing institutional support for decentralized prediction markets and comes as Polymarket's rival Kalshi experiences increased trading activity. ICE, with a market capitalization of about $91 billion, has shown strong financial performance, and its shares rose more than 4% following the news. The investment is anticipated to further strengthen Polymarket's position in the evolving prediction market space.