Intercontinental Exchange (ICE), owner of the New York Stock Exchange, has added $600 million to its investment in prediction market platform Polymarket-bringing its total commitment to nearly $2 billion.
The fresh capital follows a $1 billion infusion in October and includes plans to purchase up to $40 million in shares from existing holders. ICE stated the investment will not materially affect its financial results.
Polymarket operates a real-time trading venue for outcomes of events like elections and economic indicators. Users buy shares that pay out if a specified event occurs, with prices reflecting collective expectations.
The move deepens Polymarket’s ties to traditional finance as rival Kalshi surges-raising over $1 billion at a $22 billion valuation and reportedly generating $1.5 billion in annual revenue.
Regulators are scrutinizing whether such platforms are vulnerable to manipulation. In response, Polymarket has acquired a licensed exchange and clearinghouse and partnered with Palantir and TWG AI to build surveillance systems for detecting suspicious activity, particularly in sports markets.
ICE’s backing signals growing institutional interest in prediction markets as potential mainstream financial instruments alongside stocks and futures.