ICE to Invest Up to $2B in Polymarket

Intercontinental Exchange (ICE), owner of the New York Stock Exchange, is set to invest up to $2 billion in crypto prediction market Polymarket in a deal that reports value at roughly $8 billion to $10 billion pre-money. Under the agreement ICE will distribute Polymarket’s event-probability data to institutional clients and collaborate on tokenization initiatives to link traditional financial clients with retail demand for event-based contracts. The investment could bolster Polymarket’s effort to relaunch in the U.S. after a 2022 CFTC settlement; Polymarket has acquired licensed exchange/clearing house QCEX and expanded its product set since founding in 2020. Polymarket lets users trade yes/no shares on politics, sports, markets and culture and has attracted backers including Founders Fund and Vitalik Buterin while competing with incumbents such as CME Group and rivals like Kalshi. ICE said the cash investment would not materially affect its 2025 financial results, though some deal details remain unsettled.