The New York Stock Exchange’s (NYSE) parent company Intercontinental Exchange (ICE) is in advanced talks to invest $2 billion in Polymarket, a crypto-based prediction platform.
According to the official announcement, the deal could value Polymarket at between $8 billion and $10 billion. Further details are anticipated today, as some aspects are still being finalized.
ICE CEO Jeffrey Sprecher said the partnership could open “opportunities across markets which ICE together with Polymarket can uniquely serve,” expressing excitement about the potential of the investment.
Polymarket CEO Shayne Coplan said that partnering with ICE would blend the exchange’s institutional strength with Polymarket’s consumer expertise, enabling the company to offer top-tier products for today’s investors.
Polymarket growth
Polymarket allows users to trade on the outcomes of real-world events, ranging from politics and sports to economics and entertainment.
Users buy and sell yes/no shares priced from $0 to $1, which settle at $1 when the event concludes. The platform has recently broadened its offerings, adding company earnings forecasts and bitcoin deposits to attract a wider user base.
The potential ICE investment comes as Polymarket prepares to re-enter the U.S. market more than three years after restricting American users under a 2021 settlement with the Commodity Futures Trading Commission.
The company acquired derivatives venue QCEX this summer and secured the necessary regulatory approvals to launch its services in the U.S.
Polymarket has gained attention for high-profile markets, including predictions on the U.S. presidential election. In August, the company also received a multi-million-dollar investment from Donald Trump Jr.’s venture firm, 1789 Capital, with Trump Jr. also joining the company’s advisory board.
ICE’s potential investment reflects increased interest from traditional financial firms in crypto-based prediction markets and the blending of conventional exchanges with digital platforms.
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