ICE is in talks to invest $2 billion in Polymarket.

ICE's Strategic Investment Move in Polymarket

The parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), plans to invest $2 billion in Polymarket. While talks are reported to be in the advanced stages, this deal could value Polymarket between $8 billion and $10 billion.

Polymarket's Confirmation of the Investment

According to a report by the Wall Street Journal, Polymarket confirmed ICE's investment in the prediction market through a social media announcement. The company's statement reads: "@NYSE's parent company Intercontinental Exchange (ICE) is excited to announce a strategic investment of $2 billion at a valuation of $9 billion."

Fundraising Process and Competitors

This investment comes as a result of a months-long fundraising process for Polymarket. Last September, The Block reported that Polymarket was considering a funding round with a valuation of $9-10 billion, while its competitor Kalshi was in a fundraising round with an approximate valuation of $5 billion.

Polymarket's Expansion Strategies

After acquiring the derivatives market QCEX during the summer, Polymarket began preparations for a broader launch in the U.S. After the CFTC's decision, the company announced that it could start its operations in the U.S. During this process, it also expanded its product range. The launch of earnings prediction markets and the addition of Bitcoin deposit options are part of this expansion process.

ICE's Market Value and Its Impact on Polymarket

With a market value of over $90 billion, ICE's investment in Polymarket will provide significant support for its efforts to solidify its presence in the U.S. Polymarket's Polygon-based prediction platform allows users to buy and sell yes/no shares priced between $0 and $1. This platform offers a wide range of investment opportunities across various sectors including politics, macroeconomics, crypto assets, and culture.

The information here is not investment advice.