Intercontinental Exchange Completes $1.6 Billion Investment in Polymarket

Intercontinental Exchange has paid the last chunk of money in its investment in Polymarket, capping its total investment in the prediction markets platform at just over $1.6 billion.

The total investment is slightly below the $2 billion roof of the agreement made last year between Polymarket and the New York Stock Exchange operator.

Intercontinental Exchange, known as ICE, said Friday that it has paid $600 million to complete its obligations under an investment arrangement with Polymarket, which was made in October 2025.

ICE also expects to buy up to $40 million of Polymarket's securities from certain existing holders, it said.

The investment is designed to allow ICE to become a distributor of Polymarket's event-driven data, ICE said last year.

ICE's investment is seen as a vote of confidence from the world's leading exchange operator for Polymarket, which is banned in several countries.

Polymarket has long been off-limits to U.S. users, but the company is moving toward establishing a U.S. presence. It acquired a small U.S.-licensed exchange and clearinghouse as part of its effort to re-enter the American market.

While U.S. investors can still access Polymarket using a VPN, the company is moving toward establishing a legitimate U.S. presence. It acquired a small U.S.-licensed exchange and clearinghouse as part of its effort to re-enter the American market.

Polymarket's relationship with U.S. authorities has improved under the Trump administration and with the new leadership at the Commodity Futures Trading Commission, which oversees prediction markets.

Donald Trump Jr., the president's son, is a member of Polymarket's advisory board and his venture-capital firm 1789 Capital is an investor in the company.

ICE's deal in October valued Polymarket at roughly $9 billion, The Wall Street Journal reported. In March, The Journal reported that Polymarket and its rival Kalshi are each chasing a $20 billion valuation, and have been in talks with investors about further fundraising rounds.

Polymarket has a data partnership with Dow Jones, the publisher of The Wall Street Journal.

Write to Katherine Hamilton at [email protected]