Intercontinental Exchange invests $2bn in Polymarket

Polymarket CEO Shayne Coplan has confirmed via X (Twitter) that the company has secured a $2bn strategic investment from Intercontinental Exchange (ICE).  

Crucially, ICE is the owner and operator of the New York Stock Exchange (NYSE), one of the world’s largest and most culturally significant stock exchanges. It has been specified by Coplan that the pair intend to utilize their respective assets, including but not limited to the NYSE, to “usher in a new financial era of tokenization.”  

Further specified as part of his statement, Coplan highlights that ICE is set to distribute Polymarket’s data to a range of global financial institutions. This latest funding brings Polymarket’s post money valuation up to $9bn, according to Coplan’s post.  

Speaking on further on this deal, Coplan stated, “Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream. But in addition to that, it’s a monumental step forward for DeFi. There is so much to build when you combine the force of ICE’s institutional scale and credibility with Polymarket’s consumer + cultural savvy and distribution.” 

Good to know: ICE acquired the NYSE in 2013 for $11bn as part of its Euronext takeover 

Following its removal from the US market back in 2022, Polymarket was subject to a federal investigation in the US, which was officially dropped during Q3. In the wake of this clearance, Donald Trump Jr was appointed as the company’s Strategic Advisor, with the Commodity Futures Trading Commission giving Polymarket the go-ahead to re-enter the US market last month. 

Now, the prediction market operator is officially registered with the CFTC under its QCEX subsidiary, which was acquired earlier this summer, and is free to begin trading in the US. Indeed, this latest and significant financial investment highlights Polymarket’s intentions to focus heavily on the US market upon its seemingly imminent re-launch.  

Will Underwood

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