Intercontinental Exchange takes $2B stake in Polymarket

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, has invested $2 billion in blockchain-based prediction market Polymarket, valuing the company at $8–9 billion. This investment reflects a significant move by traditional financial institutions into decentralized event-based trading. ICE CEO Jeffrey Sprecher stated that this partnership will enable both companies to better serve market opportunities. Polymarket, which operates on Ethereum through Polygon, allows users to trade on probabilities of real-world outcomes, like elections or sports events. The platform has gained regulatory approval to operate in the U.S. and recently received support from influential backers such as 1789 Capital, linked to Donald Trump, Jr. Analysts predict the prediction market sector could generate $8 billion in annual revenue by 2030, as platforms like Polymarket gain institutional traction. This development illustrates a growing convergence of traditional finance and the crypto industry.

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