NYSE-Owner Intercontinental Exchange Reportedly In Talks To Invest $2B In Polymarket

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is reportedly in talks to invest $2 billion in crypto-based prediction market company Polymarket.

According to a report by The Wall Street Journal, citing people familiar with the matter, this deal could value Polymarket at as much as $10 billion and is expected to be announced as soon as Tuesday.

The report noted that this investment, coming from the top global exchange operator, Intercontinental Exchange, has the potential to enhance Polymarket’s credibility and support its efforts to regain a foothold in the U.S. market.

Retail sentiment on Intercontinental Exchange improved to ‘extremely bullish’ from ‘bullish’ territory a day ago, with message volumes at ‘high’ levels, according to data from Stocktwits. Shares of the company were up nearly 4% in premarket trading.

Polymarket was founded in 2020 by Shayne Coplan and helps people bet on topics such as sports and politics through yes-or-no questions.  According to The Wall Street Journal, Peter Thiel’s venture capital firm, Founders Fund, is an investor in Polymarket.

The report added that within days of U.S. President Donald Trump's election last year, the FBI had confiscated Polymarket’s founder and CEO Coplan’s phone. However, the company’s ties with the authorities have since strengthened under the Trump administration, which is now known to have a more crypto-friendly stance, it stated.

According to The Wall Street Journal, Donald Trump Jr. has joined Polymarket’s advisory board, and his venture capital firm, 1789 Capital, has also invested in the company.

Shares of Intercontinental Exchange have jumped nearly 7% this year but declined about 2% over the last 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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