Intercontinental Exchange takes $2B stake in Polymarket

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has taken a $2 billion equity stake in blockchain-based prediction market Polymarket, valuing the company between $8 billion and $9 billion, according to statements from both firms on Tuesday.

ICE shares rose more than 3% in premarket trading following the announcement. ICE CEO Jeffrey Sprecher said the partnership will allow both companies to “uniquely serve opportunities across markets,” while Polymarket founder Shayne Coplan described it as a fusion of “institutional scale and consumer savvy.”

The deal marks one of the largest private investments ever made in a crypto-native platform, underscoring how traditional financial infrastructure is expanding into decentralized event-based markets.

Polymarket operates on Ethereum through Polygon, allowing users to trade on the probability of real-world outcomes such as elections, policy decisions, or sporting events — an approach sometimes called “event-driven finance.” The platform was recently cleared to operate in the United States and earlier this year received backing from 1789 Capital, a fund linked to Donald Trump, Jr.

Analysts at Piper Sandler project the prediction markets sector could reach $8 billion in annual revenue by 2030 as platforms like Polymarket and rival Kalshi attract institutional interest.

This is a developing story.

---

This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.

---

Get the news in your inbox. Explore Blockworks newsletters:

• The Breakdown: Decoding crypto and the markets. Daily.
• 0xResearch: Alpha in your inbox. Think like an analyst.
• Empire: Crypto news and analysis to start your day.
• Forward Guidance: The intersection of crypto, macro and policy.
• The Drop: Apps, games, memes and more.
• Lightspeed: All things Solana.
• Supply Shock: Bitcoin, bitcoin, bitcoin.