Polymarket just does things.Be like Polymarket.Polymarket (@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 ...

Polymarket CEO Shayne Coplan said on Tuesday that the prediction-market platform will receive up to a $2 billion investment from Intercontinental Exchange, or ICE, linking the startup with the owner of the 233-year-old New York Stock Exchange. On X, Coplan said the deal gives Polymarket a post-money valuation of $9 billion, while a partnership with ICE will allow for the distribution of Polymarket’s data to “thousands of financial institutions around the world” through the company’s financial infrastructure ...

Market Overview - US stock futures are experiencing a pullback after the S&P 500 reached a record high, driven by tech stocks, particularly AMD's significant deal with OpenAI [1][7] - Gold prices have surged over 50% this year, reaching nearly $4,000 per ounce, amid macroeconomic factors such as the trade war and Federal Reserve rate cuts [2][14] - Bitcoin has also hit an all-time high above $125,000, reflecting similar bullish trends as seen in gold [8][17] Government and Economic Factors - The US government shutdown is ongoing, with negotiations around healthcare and spending bills at an impasse between Democrats and Republicans [3][4] - Analysts are warning of potential profit-taking in the stock market as bullish sentiment reaches euphoric levels, which historically precedes negative forward returns [11][12] Company-Specific Developments - Tesla is preparing to unveil a more affordable version of the Model Y, which will have fewer features and use less premium materials due to the expiration of the federal tax credit [5][20] - Dell has doubled its long-term growth estimates for sales and profit, projecting annual sales growth of 7-9% and earnings per share growth of over 15% [27][28] - Intercontinental Exchange plans to invest up to $2 billion in Poly Market, a crypto-based betting platform, enhancing its market value to $8 billion [29][30] - Trilogy Metals shares surged by 236% after the US government announced a $35 million investment to secure critical energy and mining projects in Alaska [31][32] Technology and Innovation - Qualcomm's acquisition of Arduino aims to enhance its edge AI capabilities, allowing developers to create AI applications more effectively [34][36] - The integration of Arduino's open-source platform with Qualcomm's technology is expected to democratize AI at the edge, catering to a wide range of developers from hobbyists to enterprises [41][44]

Core Insights - Polymarket is transitioning from a niche crypto platform to mainstream finance with a $2 billion investment from Intercontinental Exchange, valuing the company at $9 billion [1][2] - The partnership will focus on tokenization initiatives, integrating financial assets into blockchain technology [2] - The investment reflects growing interest in prediction markets, where investors can speculate on various events, combining crowd wisdom with financial stakes [3] Company Overview - Founded in 2020, Polymarket gained traction during the 2024 U.S. presidential election, with trading volume peaking at nearly $400 million the day after the election [4] - Daily trading volume has decreased to between $40 million and $80 million as of early October [5] Industry Trends - The investment in Polymarket aligns with a broader trend of increasing capital flow into prediction markets, with competitors like Kalshi also raising significant funds [6] - Kalshi raised $185 million at a $2 billion valuation and is in discussions for further capital that could value it at nearly $5 billion [6]

Core Insights - Intercontinental Exchange Inc., the owner of the New York Stock Exchange, plans to invest up to $2 billion in the crypto-based betting platform Polymarket, which values the company at approximately $8 billion [1] Investment Details - The investment by Intercontinental Exchange Inc. is significant, indicating a strong belief in the potential of the crypto-based betting market [1] - The valuation of Polymarket at around $8 billion reflects the growing interest and investment in cryptocurrency-related platforms [1]

Group 1 - Intercontinental Exchange is investing up to $2 billion in Polymarket and will collaborate on future tokenization initiatives [1] - Polymarket allows users to buy and sell shares of potential event outcomes, utilizing peer-to-peer trades through smart contracts [1] - The deal is seen as a significant step towards integrating prediction markets into the financial mainstream according to Polymarket's CEO Shayne Coplan [2] Group 2 - Tokenization involves converting real-world assets into digital tokens using blockchain technology, enabling trading similar to cryptocurrencies [2] - Advocates believe tokenization can democratize trading, making it cheaper, more transparent, and accessible for everyday investors [3] - Critics argue that tokenization could undermine existing securities laws and investor protections in the U.S. financial system [3] Group 3 - Interest in tokenization has increased due to the crypto-friendly regulatory environment promoted by the Trump administration [4] - Intercontinental Exchange's shares rose approximately 1% in morning trading following the announcement [4]

[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]