NYSE Owner Invests $600 Million in Polymarket, Capping Deal

Intercontinental Exchange Inc., the owner of the New York Stock Exchange, invested $600 million in cash in Polymarket, completing its plan to build a stake in the prediction markets platform.

The exchange also expects to purchase as much as $40 million in Polymarket securities from existing holders, the company said Friday in a statementBloomberg Terminal.

In October, ICE initially invested $1 billion into Polymarket, with a plan to ramp up that bet over time to as much as $2 billion. With the latest bet, which completes ICE's commitment, the exchange will have a roughly $1.64 billion stake in Polymarket.

A representative for ICE declined to comment beyond the statement.

Prediction markets have gained even more traction since the 2024 US presidential election. Investors have been pouring more money into platforms including Kalshi Inc., which raised more than $1 billion at a valuation of $22 billion in a new funding round, Bloomberg News reported earlier this month.

ICE said Friday that the valuation of its latest investment in Polymarket is expected to be disclosed when Polymarket completes its fundraising.