ICE Invests Up to $2B in Polymarket, Valuing Prediction Market at $9-10B
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has made a significant strategic investment of up to $2 billion in Polymarket, a prediction market platform. This deal, announced in October, values Polymarket at $9 billion to $10 billion, marking a substantial increase in its valuation.
Polymarket, which is not yet authorized to operate in the US, has attracted a range of high-profile investors. Donald Trump Jr.'s firm, 1789 Capital, made a multimillion-dollar investment in August, joining other prominent backers such as Peter Thiel's Founders Fund and Ethereum co-founder Vitalik Buterin. ICE's investment, which will not affect its 2025 financial results or plans to return capital to shareholders, further cements Polymarket's position in the stock market today.
The deal between ICE and Polymarket goes beyond a simple investment. ICE will become a global distributor of Polymarket's event-driven data and partner on future tokenization initiatives. This collaboration further blurs the lines between prediction markets and traditional financial markets. Meanwhile, Polymarket's main competitor, Kalshi, was valued at $2 billion in June and is rumored to be seeking additional financing at a $5 billion valuation.
Polymarket's valuation has skyrocketed in recent months, increasing at least ninefold from $1 billion in June to its current valuation of $9 billion to $10 billion. This rapid growth, coupled with strategic investments from prominent figures and institutions, positions Polymarket as a significant player in the prediction market landscape. However, its inability to operate in the US currently presents a hurdle, preventing it from offering contracts for major US events like football.
