Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, is set to invest $2 billion in crypto-powered prediction market Polymarket.
The deal, which Polymarket CEO Shayne Coplan confirmed on X, values the platform at $9 billion. ICE’s investment could lend regulatory credibility to Polymarket’s efforts to return to the U.S. market.
“Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream,” Coplan wrote. “ICE is the one remaining founder-led exchange company, and Jeff is all-in on utilizing his assets, including NYSE, to usher in a new financial era of tokenization.”
Founded in 2020, Polymarket lets users place bets on future events, including politics, economics, companies’ performances, and sports. While popular abroad, the platform has been off-limits to U.S. users since a 2022 settlement with the Commodity Futures Trading Commission.
Earlier this year, Polymarket acquired a licensed exchange and clearing house to help ease its reentry. It has also strengthened political ties. Donald Trump Jr. joined its advisory board in August, and his venture firm became an investor.
Coplan added in his post that before founding the prediction platform he “knew we were entering an era where ways to find truth would matter more than ever, and Polymarket could play a critical role in that.”
“After all, nothing is more valuable than the truth. It’s still a work in progress, but we’re honored to have made the impact we have thus far,” he said.
Polymarket, according to DeFiLlama data, saw $1.5 billion in volume last month and has $164 million in total value locked. The company, according to TheTie data, has raised a total of $300 million in capital to date from investors that include Peter Thiel’s venture capital firm, Founders Fund.
Rival platform Kalshi has seen rising volume over the last few months, and over the summer raised $185 million at a $2 billion valuation.
UPDATE (Oct. 7, 2025, 15:20 UTC): Adds additional information.