US EditionNYSE-owner Intercontinental Exchange rises after it takes $2 billion stake in Polymarket
Intercontinental Exchange's $2 billion investment aims to support Polymarket's U.S. market return and could value the platform at $10 billion, restoring regulatory credibility.
- Intercontinental Exchange announced it will invest up to $2 billion in Polymarket, valuing the betting platform at $8 billion.
- Polymarket, founded by Shayne Coplan in 2020, allows users to bet on various outcomes and recently received approval to operate legally in the US.
- Polymarket faced legal challenges, settling with CFTC for $1.4 million, but resumed US operations after acquiring QCEX for $112 million.
- Coplan stated, 'Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream.
79 Articles
79 Articles
Intercontinental Exchange to Invest $2 Billion in Polymarket
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced a strategic investment of $2 billion in crypto-based prediction market platform Polymarket. Polymarket confirmed the strategic investment, which came at a $9 billion post-money valuation, after the Wall Street Journal first reported the deal. This story is an excerpt from the Unchained Daily newsletter. To get these updates in your email for f…
The New York Stock Exchange owner wants in on election betting—what that means for the industry
The New York Stock Exchange’s parent company, Intercontinental Exchange (ICE), said on Tuesday it will invest up to $2 billion into the crypto-based betting platform Polymarket. The move marries the more traditional, regulated NYSE with the riskier prediction markets, and is generally seen as a move by the iconic 233-year-old exchange to keep up with its competitors by capitalizing on the growing popularity of betting on all kinds of things. “Ou…
Wall Street Bets — On Polymarket
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