Intercontinental Exchange, the owner of the New York Stock Exchange, is considering another investment in Polymarket as the prediction market platform seeks fresh funding at a valuation above $20 billion.
ICE CEO Jeff Sprecher told Bloomberg Television that the company would review the round if its participation could help Polymarket complete the raise.
The target valuation would mark a sharp increase from the roughly $8 billion level attached to Polymarket when ICE first announced its investment relationship in October 2025.
ICE Expands Its Polymarket Relationship
ICE has already committed significant capital to the platform. It initially agreed to invest up to $2 billion and followed with another $600 million investment in March.
According to ICE, the relationship also includes cooperation around data and market infrastructure rather than a conventional venture-capital strategy.
Sprecher emphasized that ICE does not intend to become a broad technology investor. Instead, Polymarket offers access to prediction-market data and expertise that can complement ICE’s traditional exchange business.
The company’s digital-market push has also included involvement in debates around crypto derivatives and platforms such as Hyperliquid.
Prediction Markets Draw More Institutional Capital
Polymarket’s fundraising comes as prediction markets attract more Wall Street interest. Rival Kalshi recently reached a reported $22 billion valuation, underscoring the rapid growth of the sector.
Platforms such as Polymarket and Kalshi allow users to trade contracts tied to elections, sports, economic data and geopolitical events. Their expansion has also intensified disputes over whether such products should fall under federal derivatives regulation or state gambling laws.
The CFTC has been working toward clearer federal oversight for prediction markets, while several states continue challenging sports-related contracts.
Robinhood CEO Vlad Tenev told Bloomberg that prediction markets should remain under CFTC supervision rather than be regulated separately by individual states.
ICE, meanwhile, remains less interested in perpetual futures. Sprecher said those products do not fit the company’s core client base, which primarily uses traditional futures for hedging.
That makes Polymarket a more natural strategic fit for ICE: a fast-growing market that can provide new data, trading signals and institutional distribution opportunities.
