NYSE Owner Invests $600 Million in Polymarket, Capping Deal (1)

Intercontinental Exchange Inc., the owner of the New York Stock Exchange, has invested another $600 million in Polymarket, completing its plan to build a stake in the prediction markets platform.

The exchange operator also expects to purchase as much as $40 million in Polymarket securities from existing holders, it said in a statement.

ICE initially invested $1 billion into Polymarket in October, with the option to increase that over time to as much as $2 billion. The company now has a stake of roughly $1.64 billion, and said Friday that it has “completed its obligations” under the plan. ...