New York Stock Exchange parent company invests $2 billion in Polymarket at $9 billion valuation

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]