ICE Invests $2 Billion in Prediction Market Platform Polymarket

NEW YORK, NY — Shares of Intercontinental Exchange Inc. (ICE) rose more than 3% in premarket trading on Thursday after the company announced a $2 billion investment in prediction markets platform Polymarket.

The deal values Polymarket at approximately $8 billion, according to a joint release from both companies. ICE CEO Jeffrey Sprecher expressed enthusiasm for the investment, stating, “There are opportunities across markets which ICE together with Polymarket can uniquely serve, and we are excited about where this investment can take us.”

Polymarket has seen increased interest as the prediction markets industry gains mainstream appeal. Its competitor, Kalshi, has enjoyed significant trading volume increases, attributed in part to the growing popularity of sports-related contracts. A report by Piper Sandler predicts the revenue of the prediction markets industry could reach $8 billion by 2030.

Earlier this year, Polymarket secured additional funding backed by Donald Trump Jr. Last month, the company received approval to launch operations in the U.S. market.

In a statement, Polymarket founder and CEO Shayne Coplan highlighted the potential of the investment, saying, “By combining ICE’s institutional scale and credibility with Polymarket’s consumer savvy, we will be able to deliver world-class products for the modern investor.”

The details of the deal were first reported by industry sources, and both Sprecher and Coplan are expected to discuss the investment further on CNBC‘s “Squawk Box” at 8:40 a.m. ET.