blockworks.co
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has taken a $2 billion equity stake in blockchain-based prediction market Polymarket, valuing the company between $8 billion and $9 billion, according to statements from both firms on Tuesday.
ICE shares rose more than 3% in premarket trading following the announcement. ICE CEO Jeffrey Sprecher said the partnership will allow both companies to “uniquely serve opportunities across markets,” while Polymarket founder Shayne Coplan described it as a fusion of “institutional scale and consumer savvy.”
The deal marks one of the largest private investments ever made in a crypto-native platform, underscoring how traditional financial infrastructure is expanding into decentralized event-based markets.
Polymarket operates on Ethereum through Polygon, allowing users to trade on the probability of real-world outcomes such as elections, policy decisions, or sporting events — an approach sometimes called “event-driven finance.” The platform was recently cleared to operate in the United States and earlier this year received backing from 1789 Capital, a fund linked to Donald Trump, Jr.
Analysts at Piper Sandler project the prediction markets sector could reach $8 billion in annual revenue by 2030 as platforms like Polymarket and rival Kalshi attract institutional interest.
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