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The Intercontinental Exchange (ICE), parent company of the New York Stock Exchange (NYSE), is reportedly in advanced discussions to invest $2 billion in prediction market platform Polymarket, in a deal that could value the company between $8 billion and $10 billion, according to a report by The Wall Street Journal.
A formal announcement could come as early as Tuesday, though sources say details are still being finalized. If completed, the move would mark one of ICE’s largest strategic investments in the crypto-adjacent fintech sector to date, signaling growing institutional interest in blockchain-based prediction markets.
Expanding Valuation and Market Reach
The potential investment follows months of speculation surrounding Polymarket’s fundraising ambitions. In September, The Block reported that the company was exploring a $9–$10 billion valuation, putting it well ahead of competitors such as Kalshi, which is reportedly raising funds at around $5 billion.
Polymarket’s growth has accelerated through a series of acquisitions and product expansions aimed at increasing its U.S. footprint. Over the summer, the company announced a deal to acquire derivatives platform QCEX, paving the way for an eventual U.S. launch pending CFTC approval.
Polymarket’s Push Into Mainstream Finance
Since that acquisition, Polymarket has introduced several new product lines, including company-earnings forecasting markets and the addition of Bitcoin deposits to enhance user flexibility. These updates are part of a broader push to blend crypto-native innovation with regulated trading infrastructure, making the platform more appealing to both retail and institutional users.
The ICE partnership would represent a significant endorsement from one of Wall Street’s most established players, potentially positioning Polymarket as the leading prediction market platform bridging traditional finance and Web3 ecosystems.