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yesterday

ICE Invests $2 Billion in Polymarket, Valuing Prediction-Market Startup at $9 Billion

The all-cash deal positions ICE to distribute Polymarket probability data, signaling institutional acceptance following recent CFTC staff relief enabling a U.S. return.

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Overview

  • Intercontinental Exchange, owner of the New York Stock Exchange, announced an all-cash investment of up to $2 billion in Polymarket at an $8 billion pre-money and roughly $9 billion post-money valuation.
  • ICE will act as a global distributor of Polymarket’s event-driven probabilities to financial clients and the partners agreed to pursue tokenization initiatives.
  • Polymarket’s path back to the U.S. includes its 2022 CFTC settlement, the July acquisition of CFTC-registered QCEX, and a Sept. 3 CFTC staff no-action letter clearing a route to relaunch.
  • One Forbes report noted the planned U.S. relaunch awaits CFTC processing, which has been slowed by the federal shutdown’s pause of some agency operations.
  • Shares of ICE rose several percent in pre-market trading after the news, as the deal underscored growing institutional interest in regulated event contracts alongside competition from Kalshi.