NYSE-owner Intercontinental Exchange rises on report of $2 billion Polymarket stake
Group 1 - Intercontinental Exchange's shares rose over 4% in premarket trading following reports of a nearing $2 billion stake deal in Polymarket, valuing the company between $8 billion and $10 billion [1] - Prediction markets are becoming more mainstream, with Polymarket's competitor Kalshi experiencing significant trading volume increases due to sports-related contracts [2] - Polymarket received approval to launch in the U.S. from the CFTC, with CEO Shayne Coplan praising the Commission for their expedited process [3] Group 2 - Earlier this year, Polymarket secured an investment from 1789 Capital, which is associated with Donald Trump Jr. [2]