New York Stock Exchange Owner to Acquire $2B Stake in Polymarket

Core Insights - Intercontinental Exchange (ICE) is investing $2 billion in Polymarket, valuing the platform at $9 billion, which may enhance its regulatory credibility in the U.S. market [1][2] - Polymarket, founded in 2020, allows users to bet on future events and has been unavailable to U.S. users since a 2022 settlement with the Commodity Futures Trading Commission [2][3] - The platform reported $1.5 billion in volume last month and has $164 million in total value locked, with a total of $300 million raised from investors including Founders Fund [4] Company Developments - Polymarket has acquired a licensed exchange and clearing house to facilitate its reentry into the U.S. market and has strengthened political ties, including Donald Trump Jr. joining its advisory board [3] - The CEO of Polymarket emphasized the importance of finding truth in the current era and the platform's potential role in that [3] Market Context - Rival platform Kalshi has experienced increased volume and raised $185 million at a $2 billion valuation over the summer [4]