Quick take:
- The investment from the Intercontinental Exchange could help Polymarket re-enter the U.S. market, the report said.
- The investment follows Polymarket’s acquisition of the licensed exchange and clearing house, QCEX, for $112 million to help ease US reentry.
- In August, Axios reported that the prediction markets platform had received a double-digit million dollars from the Trump family-backed 1789 Capital.
New York Exchange parent, the Intercontinental Exchange Inc (NYSE: ICE), is on course to complete a $2 billion stake in Polymarket. According to the report, the investment values the prediction markets platform at about $10 billion, according to the Wall Street Journal, which pointed to sources familiar with the matter.
Both companies reported a valuation of $8 billion, according to CNBC, which pointed to a release. This implies a potential 25% stake for the Intercontinental Exchange in Polymarket.
The investment advances Polymarket’s plans to re-enter the U.S. market, having acquired the licensed exchange and clearing house, QCEX, for $112 million earlier this year.
The company also received a double-digit million-dollar investment from the Trump family-backed 1789 Capital in August.
“There are opportunities across markets which ICE, together with Polymarket, can uniquely serve, and we are excited about where this investment can take us,” Intercontinental Exchange CEO Jeffrey Sprecher said in a statement.
Polymarket founder and CEO Shayne Coplan commented: ”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.”
The report comes amid a rising interest in prediction market trading, with US-regulated Kalshi recently enjoying a significant increase in trading volume after the implementation of sports-related contracts.
Market research and analysis firm Piper Sandler predicts the prediction markets industry revenues could reach $8 billion as it takes a share of the gambling market revenue.
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