Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, is investing up to $2 billion in Polymarket,
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, is investing up to $2 billion in Polymarket, valuing the fast-growing prediction and betting platform at about $8 billion.
The deal links a $90 billion financial powerhouse with a crypto-based startup founded in 2020 that only recently secured approval to operate in the United States. Under the partnership, ICE will distribute Polymarket’s event-driven data globally and collaborate on tokenization projects that merge conventional markets with blockchain-based assets, as per New York Post.
“Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream,” said Polymarket Chief Executive Shayne Coplan. “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.”
Polymarket allows users to wager on the outcomes of events ranging from sports and elections to music sales and geopolitical developments. The platform recorded more than $2 billion in trading volume during the 2024 U.S. presidential election and accurately predicted President Trump’s victory.
The company’s rapid rise has been shadowed by controversy. Last year, FBI agents raided Coplan’s Manhattan apartment as part of a probe into whether Polymarket had accepted bets from U.S. users before obtaining regulatory clearance. Relations with U.S. authorities have since improved under the Trump administration, which is seen as more receptive to cryptocurrency businesses. Coplan later wrote on social media: “Justice prevailed.”
Polymarket has attracted backing from prominent investors including Peter Thiel’s Founders Fund. Donald Trump Jr. joined its advisory board in August, and his venture-capital firm, 1789 Capital, is also an investor.
ICE Chairman and CEO Jeffrey Sprecher is married to Kelly Loeffler, the head of the Small Business Administration and a Trump ally.
The deal comes as competition in the prediction markets sector intensifies. Rival Kalshi, recently valued at $2 billion, has seen record trading volumes after introducing NFL betting markets, drawing criticism from traditional gambling regulators who argue such activity should remain under state oversight.
https://www.yogonet.com/international/news/2025/10/08/115703-new-york-stock-exchange-owner-invests-2-billion-in-polymarket-valuing-startup-at-8-billion