The Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is reportedly nearing a $2 billion investment in Polymarket.
It points to Wall Street’s most traditional player stepping into one of crypto’s most controversial frontiers.
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NYSE Owner ICE Reportedly Nears $2 Billion Investment in Polymarket
Sources familiar with the matter told WSJ that the deal could value Polymarket at up to $10 billion. If it materializes, it would cement Polymarket’s status among the fastest-growing projects in decentralized finance (DeFi).
If completed, the deal could also aid Polymarket’s ambitions as it re-establishes a presence in the US following the CFTC approval.
Despite regulatory troubles in the US, the platform has continued to thrive offshore, attracting a mix of retail traders and high-net-worth users seeking exposure to political, financial, and cultural event outcomes.
Meanwhile, the prospective ICE-Polymarket deal comes only months after reports indicated Peter Thiel’s Founders Fund led a $200 million investment, valuing the company around $1 billion.
Notably, ICE’s potential deal would multiply this figure several times over. The investment is expected to be finalized as soon as Tuesday, October 7. It marks a bold move by ICE, which boasts a market capitalization above $91 billion.
Intercontinental Exchange (ICE) Market Cap. Source: Google FinanceThe firm’s entry into prediction markets signals a broader shift in traditional finance’s appetite for event-driven trading infrastructure. Notably, this space is often dismissed as a regulatory gray zone.
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It would also mirror ICE’s historical strategy of acquiring stakes in early-stage innovations that redefine market mechanics, from energy exchanges to digital asset clearinghouses.
TradFi’s Deepening Push into Prediction Markets
The timing of ICE’s reported investment is striking. It comes just months after rival platform Kalshi secured a $185 million Paradigm-led round, valuing the CFTC-regulated prediction market at $2 billion.
Kalshi’s ability to operate legally in the US has made it the preferred choice for investors seeking compliant exposure to event contracts. Meanwhile, Polymarket’s more open, crypto-native model has driven faster user growth and liquidity abroad.
The two platforms illustrate how prediction markets are growing into a legitimate asset class. They are bridging speculative sentiment, information markets, and financial hedging tools.
Despite Polymarket’s regulatory challenges, the startup’s traction has drawn top-tier venture capital.
For ICE, the move could signal an acknowledgment that prediction markets are no longer fringe speculation tools, but rather emerging instruments for price discovery and sentiment analysis.
By aligning with a decentralized prediction market, the NYSE owner could position itself at the intersection of blockchain innovation, alternative data, and next-generation derivatives.
Both Kalshi and Polymarket command multi-billion-dollar valuations. Wall Street’s bet on prediction markets is accelerating, and the line between traditional and crypto-native exchanges is fading faster than ever.
Source: https://beincrypto.com/polymarket-eyes-10-billion-valuation-ice-deal/
