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1h ago

ICE Reportedly Nears $2 Billion Stake in Polymarket at Up to $10 Billion Valuation

An investment by the NYSE owner would signal mainstream backing that could accelerate Polymarket’s planned U.S. return.

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Photo: Joshua Tsu
New York Stock Exchange building (David Vives/Unsplash/Modified by CoinDesk)
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Overview

  • The Wall Street Journal reported that Intercontinental Exchange is close to a roughly $2 billion investment in Polymarket, with a deal possibly announced as soon as Tuesday.
  • The reported stake would value the prediction-market platform between $8 billion and $10 billion, according to the WSJ coverage.
  • ICE shares rose more than 4% in premarket trading after the report, CNBC noted, though neither company publicly confirmed a deal.
  • Polymarket has pursued a U.S.-compliant path after a 2022 CFTC settlement, acquiring a licensed exchange and clearing house and receiving recent staff-level relief referenced by the company.
  • The platform logged about $1.5 billion in trading volume last month and lists backers such as Founders Fund, while rival Kalshi recently raised $185 million at a $2 billion valuation.