NYSE Owner Intercontinental Exchange Nears $2B Stake in Polymarket

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is finalizing a $2 billion investment in crypto-based prediction platform Polymarket. The deal, expected to be announced imminently, WOULD value the startup at up to $10 billion—a landmark validation for decentralized prediction markets.

The investment carries significant regulatory implications. Polymarket has been barred from U.S. operations since 2022 following CFTC scrutiny. Recent moves—including acquiring a licensed exchange and recruiting Donald TRUMP Jr. as an advisor—signal preparations for a stateside comeback. ICE's backing could accelerate regulatory acceptance.

Trading volumes tell a compelling story. Polymarket processed $1.5 billion in wagers last month, with $164 million locked in its contracts. The platform has raised $300 million to date from notable backers including Peter Thiel's Founders Fund. Meanwhile, competitor Kalshi recently secured $185 million at a $2 billion valuation, highlighting growing institutional interest in prediction markets.