Intercontinental Exchange Inc., owner of the New York Stock Exchange, plans to invest as much as $2 billion in cash in Polymarket, a crypto-based betting platform. The transaction values the company, which lets traders wager on the outcome of real-world events such as elections and sports, at roughly $8 billion, ICE said in a statement Tuesday. Most Read from Bloomberg ICE will become a global distributor of Polymarket’s event-driven data, providing customers with sentiment indicators on topics in the m ...

Core Insights - Intercontinental Exchange (ICE) is nearing a $2 billion investment in Polymarket, potentially valuing the platform at $10 billion, marking a significant convergence of traditional finance and crypto markets [1] - ICE's shares rose over 4% in premarket trading following the announcement, indicating strong investor interest [1] Group 1: Investment and Market Position - Polymarket, founded in 2020, allows users to speculate on real-world events across various sectors, including politics and sports, and has seen trading volumes exceed $2.5 billion during the 2024 US presidential election [3][4] - The platform currently hosts over 21,000 active markets and has more than 1.2 million users, showcasing its rapid growth and market influence [4] Group 2: Strategic Developments - Polymarket has integrated direct Bitcoin deposits and previously launched on Solana, enhancing liquidity and user accessibility [4] - The platform is reportedly preparing for a $200 million funding round led by Peter Thiel's Founders Fund [5] Group 3: Regulatory Compliance and Acquisitions - Polymarket has successfully navigated US regulatory challenges, including a 2022 CFTC enforcement action, and acquired QCX for $112 million, receiving a no-action letter from the CFTC for a planned US relaunch [6] - The advisory board includes high-profile figures such as Donald Trump Jr., adding credibility to the platform [7]

Investment & Market Trends - Intercontinental Exchange (ICE) plans to invest up to $2 billion in the betting platform Poly Market [1] - The investment values Poly Market at approximately $8 billion, following a previous $200 million raise at a $1 billion valuation in June [2] - The investment highlights the traditional finance world's recognition of decentralized markets and blockchain's role in the future of finance [2] - Piper Sandler notes that this positions ICE at the center of retail prediction markets and tokenization [2] User Growth & Competition - Poly Market has approximately 250,000 users, exceeding its direct competitor, Kelshi [3] Strategic Implications - The investment represents an opportunity for ICE to innovate and disrupt existing legacy systems [2] - The deal suggests a shift in the willingness of traditional companies to innovate compared to the dot-com bust era [4]

Core Insights - The Intercontinental Exchange (ICE) plans to invest up to $2 billion in the betting platform Poly Market, indicating a significant shift in traditional finance towards decentralized markets and blockchain technology [1][2]. Investment Details - Poly Market recently raised $200 million at a valuation of $1 billion in June, and the new investment from ICE would increase its valuation to approximately $8 billion [2]. - The investment from ICE positions it at the forefront of two rapidly growing trends: retail prediction markets and tokenization [2]. User Growth and Market Position - Poly Market has approximately 250,000 users, surpassing its direct competitor Kelshi, highlighting its strong position in the sports betting platform space [3]. Industry Trends - The investment reflects a broader trend of traditional finance recognizing the importance of innovation and disruption in legacy systems, which was not as prevalent a decade ago [4].

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]

Polymarket was once a niche crypto platform. Now, the startup is moving into the ranks of mainstream finance thanks to a $2 billion investment from trading giant Intercontinental Exchange. Under the terms of the deal, announced on Tuesday, the investment will value the company at $9 billion, and the parent company of the New York Stock Exchange will distribute the prediction market’s data. The two companies will also work together on tokenization initiatives, or the act of putting financial assets into bl ...

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]