ICE Weighs Additional Investment in Polymarket at Valuation Above $20 Billion

Intercontinental Exchange Inc., the parent of the New York Stock Exchange, is considering an additional investment in global prediction-market platform Polymarket.

Chief Executive Officer Jeff Sprecher told Bloomberg TV on Aug. 20 that ICE would be open to participating in the latest funding round if its involvement would help.

ICE has already invested about $1.64 billion in Polymarket over two rounds. Polymarket is now seeking additional funding at a valuation of more than $20 billion, more than double the level it was valued at in October last year.

Sprecher emphasized that ICE did not invest in Polymarket solely for financial returns. ICE is not a venture capital firm, he said, and the focus of the investment is for the two companies to share information and expertise.