NYSE owner doubles down on Polymarket with fresh $600 million investment
The parent company of the New York Stock Exchange is cementing its bet on the future of prediction markets, bringing its total commitment to nearly $2 billion.
What to know:
- Intercontinental Exchange, the owner of the New York Stock Exchange, added $600 million to its investment in prediction market platform Polymarket, bringing its total commitment close to $2 billion.
- The ICE deal deepens Polymarket’s ties to a major global market operator as rival Kalshi raises more than $1 billion at a $22 billion valuation and generates an estimated $1.5 billion in annual revenue.
- The surge in funding comes as regulators and lawmakers scrutinize whether prediction markets are vulnerable to manipulation.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), said it added another $600 million to its investment in prediction market platform Polymarket, closing out a previously announced funding agreement between the two firms.
The new capital comes on top of a $1 billion investment ICE made in October. ICE also plans to buy up to $40 million in additional shares from existing holders, bringing its total commitment close to $2 billion. The company said the investment will not materially affect its financial results.
Polymarket runs a marketplace where users trade on the outcome of real-world events, from elections to economic data releases. A trader, for example, might buy shares that pay out if inflation rises above a specified level. Prices shift in real time, reflecting crowd expectations.
The backing from ICE gives Polymarket more than capital. It ties the platform to one of the upcoming names in global markets. Rival platform Kalshi recently raised more than $1 billion at a $22 billion valuation, roughly double its previous mark. The company is already generating an estimated $1.5 billion in annual revenue, highlighting strong demand for event-based trading.
