ICE to invest up to $2B in Polymarket, valuing it at about $8B

Intercontinental Exchange, the owner of the New York Stock Exchange, said on Tuesday it will invest up to $2 billion in Polymarket, a blockchain-based prediction market platform, in a deal that values the company at roughly $8 billion and has been placed as high as $10 billion in some estimates. The agreement includes plans for ICE to distribute Polymarket’s event-driven data to its clients and to collaborate on tokenization initiatives intended to bring market-relevant probability signals into mainstream financial workflows.

Polymarket allows users to buy and sell contracts that pay out based on the outcomes of future events across politics, economics, sports and culture. The platform, founded in 2020, has drawn significant trading volume and venture backing, and its growth has been tied to rising interest in markets that price probabilities of real-world events. Company executives and public filings indicate Polymarket has attracted investment from several venture firms and recently added Donald Trump Jr. to its advisory board.

ICE said the investment will be made in cash and described the partnership as an effort to combine its institutional scale with Polymarket’s...