Polymarket seeks $20B+ valuation as ICE considers new investment

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is considering participating in a new funding round for prediction market platform Polymarket. The platform is currently seeking fresh capital at a valuation exceeding $20 billion, a significant increase from its approximately $8 billion valuation in October.

ICE CEO Jeff Sprecher stated that the company would review the investment if its participation could help Polymarket complete the funding round. Sprecher emphasized that ICE is not acting as a traditional venture capital firm, but rather building a relationship focused on the exchange of data, expertise, and market infrastructure. ICE has already committed up to $2 billion to the platform, with its stake estimated at $1.64 billion as of March.

The interest in Polymarket comes amid rapid growth in the prediction market sector, which allows users to trade contracts on elections, sports, and geopolitical events. Competitor Kalshi has also seen a reported valuation rise to $22 billion, highlighting intensifying institutional interest and ongoing regulatory debates regarding whether these products fall under federal derivatives oversight or state gambling laws.