Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has revealed plans to invest up to $2 billion in Polymarket.
This investment places the crypto prediction platform’s valuation at roughly $8 billion before funding, according to ICE’s announcement on Tuesday.
The move follows rising enthusiasm in the prediction market sector, which recently caused sharp declines in the stock prices of several sports betting firms.
As part of the agreement, ICE will also act as Polymarket’s global distributor for event-driven data, offering clients market-relevant sentiment insights drawn from prediction outcomes.
Shayne Coplan, founder and chief executive of Polymarket, said:
Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream. Together, we’re expanding how individuals and institutions use probabilities to understand and price the future.
By combining ICE’s institutional scale and credibility with Polymarket’s consumer savvy, we will be able to deliver world-class products for the modern investor. Realising the potential of new technologies, such as tokenisation, will require collaboration between established market leaders and next-generation innovators.
Jeffrey Sprecher, chair and chief executive of ICE, added:
Our investment blends ICE, the owner of the New York Stock Exchange, which was founded in 1792, with a forward-thinking, revolutionary company pioneering change within the decentralised finance space.
There are opportunities across markets which ICE together with Polymarket can uniquely serve and we are excited about where this investment can take us.
Polymarket enables users to trade shares tied to potential outcomes of real-world events, allowing them to voice their opinions through a peer-to-peer system powered by smart contracts. The platform rose to prominence last year thanks to its prediction markets centered on the US presidential election.
