NYSE Owner to Invest $2 Billion in Betting Firm Polymarket (1)

Intercontinental Exchange Inc., owner of the New York Stock Exchange, plans to invest as much as $2 billion in cash in Polymarket, a crypto-based betting platform.

The transaction values the company, which lets traders wager on the outcome of real-world events such as elections and sports, at roughly $8 billion, ICE said in a statement Tuesday.

ICE will become a global distributor of Polymarket’s event-driven data, providing customers with sentiment indicators on topics in the market, according to the statement. The exchange operator and Polymarket have also agreed to partner on future tokenization initiatives.

Polymarket CEO Shayne Coplan

Photographer: Kent Nishimura/Bloomberg

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