NYSE parent invests $2B in Polymarket at $9B valuation

NYSE parent company, Intercontinental Exchange, has invested $2 billion in the crypto prediction market Polymarket at a $9 billion valuation.

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has invested $2 billion in cryptocurrency-based prediction market Polymarket.

According to a Tuesday Polymarket X post, the ICE invested $2 billion in the prediction market. The deal values Polymarket at a $9 billion post-money valuation.

ICE’s NYSE is the world’s largest stock exchange by market capitalization, exceeding $25 trillion as of July 2024. Its interest is the latest move that fuses the United States’ traditional financial landscape with the cryptocurrency industry.

Read more