NYSE Owner in Talks to Invest $2 Billion in Polymarket, WSJ Says

The owner of the New York Stock Exchange is nearing a deal to invest $2 billion in crypto-based prediction site Polymarket, according to the Wall Street Journal.

Intercontinental Exchange Inc.’s investment would value Polymarket at as much as $10 billion, the WSJ said, citing people familiar with the matter it didn’t identify.

Any deal would underscore the rising popularity and credibility of sites that allow users to bet on the outcomes of events in politics, sports and pop culture. Chief Executive Officer Shayne Coplan said in September that Polymarket has the regulatory approvals needed to launch in the ...