[Music] Welcome back to Squawkbox this morning. New this morning, the Intercontinental Exchange and Poly Market announcing a huge new deal. It's a strategic partnership.The financial services giant investing $2 billion in Poly Market. It's uh maybe old money meets new money. Joining us right now exclusive interview is Poly Market founder and CEO Shane Coughlin.Uh and ICE founder and CEO Jeffres. Great to see both of you uh this morning. Uh it's a fascinating deal and really as I said it's sort of old money, ...

[Music] Welcome back to Squawkbox this morning. New this morning, the Intercontinental Exchange and Poly Market announcing a huge new deal. It's a strategic partnership.The financial services giant investing $2 billion in Poly Market. It's uh maybe old money meets new money. Joining us right now exclusive interview is Poly Market founder and CEO Shane Coughlin.Uh and ICE founder and CEO Jeffres. Great to see both of you uh this morning. Uh it's a fascinating deal and really as I said it's sort of old money, ...

Core Insights - Intercontinental Exchange Inc. (ICE) is set to invest up to $2 billion in Polymarket, valuing the prediction market platform at approximately $8 billion [1][3] - The investment indicates ICE's strategy to diversify into digital prediction markets, a high-growth area that merges finance and blockchain technology [3][10] - Polymarket, founded in 2020, allows users to place bets on yes-or-no questions related to various topics, including politics and sports [3] Company Developments - The partnership with ICE is seen as a significant step towards mainstreaming prediction markets, according to Polymarket's CEO Shayne Coplan [4] - Improved regulatory relations have been noted for Polymarket since a 2022 settlement, which previously restricted U.S. access [4] - The deal may enhance ICE's exposure to decentralized financial technologies amid rising investor interest in prediction markets [11] Market Reaction - ICE shares rose by 4% in premarket trading following the announcement of the investment [1][2] - The stock had previously been in decline, breaking below its 200-day exponential moving average and approaching critical support levels around $158–$160 [6][8] Technical Analysis - The critical support level at $158 is viewed as essential for maintaining long-term price structure, with potential for accumulation if this base holds [8][9] - A sustained defense of this support could signal the beginning of a reversal, contingent on closing above the $169–$173 range where key moving averages converge [9][12] - Immediate resistance levels to watch include $167.9 (20-day EMA) and $169.36 (200-day EMA) [12]

Core Insights - Intercontinental Exchange (ICE) plans to invest up to $2 billion in Polymarket, a prediction-market company founded by Shayne Coplan [1] Company Summary - Intercontinental Exchange is making a significant investment in Polymarket, indicating confidence in the potential of prediction markets [1] - Polymarket operates in the emerging sector of prediction markets, which allows users to bet on the outcomes of various events, reflecting a growing interest in alternative investment platforms [1] Industry Summary - The investment by ICE highlights the increasing relevance of prediction markets in the financial landscape, suggesting a shift towards more innovative trading mechanisms [1] - This move may signal a broader trend of traditional financial institutions exploring new technologies and platforms to diversify their offerings and engage with a wider audience [1]

Core Insights - Intercontinental Exchange (ICE) is negotiating to invest $2 billion in the cryptocurrency prediction market platform Polymarket, which could lead to a valuation of up to $10 billion for Polymarket [1] - The potential valuation range for Polymarket is between $8 billion and $10 billion, with specific details of the deal still subject to adjustment [1] - This investment from ICE may facilitate Polymarket's re-entry into the U.S. market, reflecting the platform's popularity [1] - Following the news, ICE's stock rose over 3% in pre-market trading [1]

Investment & Valuation - Polymarket 确认纽约证券交易所 (ICE) 的母公司正在进行 20 亿美元的战略投资 [1] - 投资后估值为 90 亿美元 [1]

Core Insights - Intercontinental Exchange (ICE) is making a significant investment of up to $2 billion in the prediction market platform Polymarket [1] Company Summary - The investment by ICE indicates a strategic move to expand its portfolio in the prediction market sector, which is gaining traction in the financial technology landscape [1] - Polymarket is positioned as a leading player in the prediction market space, which allows users to bet on the outcomes of various events, potentially enhancing ICE's offerings [1] Industry Summary - The prediction market industry is evolving, with increasing interest from major financial institutions, reflecting a broader trend towards alternative investment platforms [1] - This investment could signal a growing acceptance and integration of prediction markets within traditional financial services [1]

And here's the official announcement from Polymarket$2B investment at $9Bhttps://t.co/WVwqjMmrcUPolymarket (@Polymarket):We are excited to announce that Intercontinental Exchange (ICE) — the parent company of @NYSE, is making a $2b strategic investment at a $9b post-money valuation.Together, we’re building the next evolution of markets.A special thank you to all those who have supported us https://t.co/y7Z3koj3IU ...

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is reportedly in advanced talks to acquire a $2 billion stake in Polymarket, a fast-growing crypto-based prediction platform. According to a Wall Street Journal report citing people familiar with the matter, the deal could be announced as soon as Tuesday, potentially valuing Polymarket between $8 billion and $10 billion. Shares of ICE climbed more than 4% in pre-market trading following the news, as investors react ...

🚨JUST IN: INTERCONTINENTAL EXCHANGE MAKES $2B STRATEGIC INVESTMENT IN @POLYMARKET AT $9B VALUATION TO BUILD NEXT-GEN MARKETS ...