ICE’s commitment demonstrates that institutional engagement in crypto prediction platforms is expanding.
Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, has invested $2 billion in Polymarket, a cryptocurrency-based prediction market valued at $9 billion post-money.
Announcement came on October 7, 2025, Polymarket via X (formerly Twitter):
"We are thrilled to announce that Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has committed up to $2 billion in cash to acquire approximately a 20% stake in Polymarket. This strategic partnership marks a significant milestone as we work to bring prediction markets into the financial mainstream."
How Polymarket works
Polymarket operates on the Polygon network, allowing users to trade yes-or-no shares on real-world events for prices between $0 and $1. Winning shares settle at $1 USDC once each market resolves.
The platform covers politics, macroeconomics, cryptocurrency, and cultural events, providing near real-time probability assessments from the crowd.
Since acquiring derivatives venue QCEX for $112 million in July, Polymarket has expanded its offerings.
The company now provides markets for forecasting corporate earnings and accepts Bitcoin deposits and added support for Solana (SOL) deposits in March 2025, allowing users to fund accounts with faster transactions and lower fees. The integration leverages Solana’s blockchain to reduce costs compared with Ethereum, offering near-instant settlement and minimal transaction charges for participants.
Access for U.S. users has been limited by regulatory constraints, though recent developments indicate this may soon change.
Regulatory environment and oversight
In early September, the Commodity Futures Trading Commission (CFTC) issued a no-action letter to QCEX, relieving Polymarket from certain federal reporting and record-keeping requirements. Previously, in early 2022, the CFTC had issued a cease-and-desist order against Polymarket. In November 2024, the Federal Bureau of Investigation conducted a raid on CEO Shayne Coplan’s home and seized electronics.
In August 2025, Polymarket added Donald Trump Jr. to its advisory board following a strategic investment from 1789 Capital. Financial terms of the investment were not disclosed, though estimates suggest the funding reached double-digit millions of dollars. ICE’s investment comes as Polymarket continues its U.S. operations alongside other platforms, including Kalshi, which reportedly raised funds at a $5 billion valuation in September.
Trades on Polymarket generally settle in stablecoins. Market prices reflect aggregated probability assessments, and markets resolve using predefined, verifiable sources.
The platform is used for tracking outcomes in elections, sports events, and cryptocurrency prices. Additionally, in March of 2023, Polygon became the second-largest blockchain gaming network, with over 138,000 active wallets participating in games, the network’s capacity to handle high user activity provides the infrastructure for platforms like Polymarket to manage large volumes of trades and participant engagement.
Gunel Ismayilova
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