[DigitalToday reporter Chi-gyu Hwang (황치규)] Intercontinental Exchange, the parent of the New York Stock Exchange, is making an additional $600 million investment in Polymarket as it seeks to expand prediction markets, The Block reported on March 27.
ICE previously invested $1 billion in Polymarket as part of a $2 billion investment plan announced in October last year. The latest investment follows that move.
ICE also said it is considering an additional purchase of up to $40 million worth of Polymarket securities held by existing investors. It did not disclose specific financial terms, including the company valuation.
ICE said the transaction would not have a material impact on its financial results or capital return plans.
Prediction markets are platforms such as Polymarket and Kalshi where users trade on outcomes of real-world issues, including elections and geopolitical events. Traditional financial firms have recently been paying attention to the market.
Chi-gyu Hwang
delight@d-today.co.kr