NYSE Parent Firm ICE to Invest $2 Billion in Polymarket
Intercontinental Exchange (ICE), owner of the New York Stock Exchange, is nearing a $2 billion investment in Polymarket, potentially valuing the prediction market platform at $10 billion. ICE shares rose over 4% following this news.
- Polymarket allows users to speculate on real-world events and has integrated direct Bitcoin deposits, boosting liquidity and accessibility.
- The platform hosted over 21,000 active markets with 1.2 million users, achieving trading volumes exceeding $2.5 billion during the 2024 US presidential election.
- Polymarket plans a $200 million funding round led by Peter Thiel’s Founders Fund.
Regulatory Compliance and Strategic Moves
- After facing a 2022 CFTC enforcement action, Polymarket acquired QCX for $112 million and received a no-action letter from the CFTC, facilitating its US relaunch.
- Strategic partnerships include high-profile advisors like Donald Trump Jr., enhancing credibility.