Intercontinental Exchange Inc. (NYSE:ICE) rose 4% in premarket trading on Tuesday after reports said it will invest up to $2 billion in Polymarket, valuing the prediction market platform near $8 billion, according to WSJ.
Polymarket Deal Sends Premarket Surge
In premarket trading, ICE climbed to $165.01, up 3.7%, as investors responded positively to reports of a $2 billion Polymarket stake.
The move signals diversification into digital prediction markets — an emerging high-growth niche connecting finance and blockchain technology.
The proposed investment, reported by WSJ, would value Polymarket between $8 billion and $10 billion.
Founded in 2020, Polymarket lets users bet on yes-or-no questions about politics, sports, and current events.
The platform, once restricted from U.S. access following a 2022 regulatory settlement, has seen improved relations with regulators under the current administration.
Polymarket founder and CEO Shayne Coplan said the partnership with ICE marks “a major step in bringing prediction markets into the financial mainstream,” adding that combining ICE’s institutional scale with Polymarket’s …