NYSE parent ICE invests $600M in Polymarket, eyes $40M secondary

Intercontinental Exchange, the parent of the New York Stock Exchange, on Friday completed a $600 million direct cash investment in Polymarket, a prediction market platform. ICE also expects to acquire up to $40 million of Polymarket securities from existing holders.

The transaction advances a commitment ICE announced in October 2025 to invest up to $2 billion in Polymarket. Terms of the latest funding, including valuation, were not disclosed.

The deal broadens ICE’s exposure to prediction markets, where users trade contracts tied to outcomes in politics, sports and geopolitics.

Polymarket operates on Polygon, a blockchain network built to handle high volumes of low-cost transactions. Aishwary Gupta, global head of business at Polygon Labs, called ICE’s investment evidence of growing institutional interest in onchain market platforms. “Intercontinental Exchange’s investment in Polymarket highlights the growing institutional interest in onchain market platforms,” Gupta noted, adding that Polymarket’s expansion on Polygon demonstrates how blockchain infrastructure can support high-frequency, real-time market activity at scale.

Regulatory pressure on prediction markets has increased in the United States. Authorities in at least 11 states have taken or are pursuing actions involving platforms such as Polymarket and Kalshi. Nevada issued a temporary ban on Kalshi, while Arizona filed criminal charges alleging the platform operated an illegal gambling business. Other states have issued cease-and-desist notices or are considering legislation.

Polymarket recently updated its trading rules to more clearly prohibit the use of confidential information, following concerns from lawmakers and critics about insider-style activity around event-driven markets.

ICE did not outline a timeline for the additional secondary purchases or how the Polymarket investment may align with its exchange and data businesses. The company did not disclose milestones tied to the 2025 commitment.