Founded in 2020, Polymarket lets users bet on real-world events, including politics and sports|@Polymarket|X
New York Stock Exchange (NYSE) parent Intercontinental Exchange (ICE) announced taking a $2 billion stake in crypto-based prediction market, Polymarket, which gained prominence after predicting Donald Trump’s 2024 election win.
The deal values Polymarket at around $8 billion. It will make ICE, whose market value is ~$90 billion, a distributor of Polymarket’s event-driven data.
Founded in 2020, Polymarket lets users bet on real-world events, including politics and sports. Its trading volume was over $2 billion in November 2024 alone.
The company was banned in the US in 2022 for operating without a Commodity Futures Trading Commission (CFTC) registration, but its regulatory standing improved under the Trump administration, leading to its relaunch this year.
ICE’s move reflects growing mainstream interest in prediction markets, with rival Kalshi also seeing surging volumes from sports-related contracts. Analysts at Piper Sandler project the industry’s revenue could reach $8 billion by 2030, fueled by competition with sports betting.
Polymarket also received funding from 1789 Capital, backed by Donald Trump Jr.