• Loading stock data...
Tuesday, October 7, 2025

NYSE Owner Pours $2B Into Polymarket at $8B Valuation

Polymarket had been barred from operating in the U.S. since 2022 but is planning to relaunch in the country imminently.

NYSE
Unsplash

Polymarket will receive up to $2 billion from the operator of the New York Stock Exchange at an $8 billion valuation, the latest marker of the growing prominence of prediction markets in the U.S., despite controversy surrounding their sports event contracts.

Under the agreement, Intercontinental Exchange (ICE) will make a “strategic investment” in Polymarket, which had been barred from operating in the U.S. since 2022 but is planning to relaunch in the country imminently. The deal implies a pre-investment valuation of $8 billion for Polymarket, according to Tuesday’s statement, and a $9 billion post-investment valuation, the company said in a social media post.

In addition to capital, ICE will provide financial institutions with insight into how users are trading on key issues based on Polymarket data, and the two sides intend to team up on future projects involving digital tokens.

Jeffrey Sprecher, chair and CEO of ICE, said in Tuesday’s statement that Polymarket is a “forward-thinking, revolutionary company pioneering change within the decentralized finance space.”

Polymarket has been a lightning rod for criticism dating back years. It was prohibited from operating in the U.S. under a 2022 settlement with the Biden Administration, but has quickly taken steps to reenter the country after recently being cleared in a federal probe—including through the July acquisition of QCX, a small derivatives exchange that is licensed by the Commodity Futures Trading Commission (CFTC). The company is blockchain-based, requiring users to trade using cryptocurrencies. It counts Donald Trump Jr. as a strategic advisor.

Shayne Coplan, founder and CEO of Polymarket, reflected on the long road his company has taken in a social media post, calling the last few years “surreal” and describing the deal with ICE as a major step in bringing prediction markets into the financial mainstream.” He also said the agreement represents a “monumental step forward” for decentralized finance.

Prediction-market platforms like Polymarket and its primary rival, Kalshi, offer event contracts that allow users to trade on the outcome of events. These started as non-sports offerings, with events such as whether there will be a recession this year or how high the temperature will be in New York City on a given day. But starting in January, Kalshi began offering sports event contracts that appear very similar to sports betting. Polymarket also offers sports event contracts, with trades on everything from the NBA, NFL, and MLB to whether Elon Musk will attend a UFC event this year.

State regulators have pushed back, and Kalshi is fighting multiple court battles over its sports offerings. Traditional sportsbooks have also taken notice: prediction markets are currently the talk of the town at the G2E event in Las Vegas, an annual global gaming expo; FanDuel entered prediction markets through a deal with CME Group (although there will be no sports to start); and Robinhood recently rolled out prediction markets that will allow users to trade on the outcomes of pro and college football games.

Representatives for ICE and Polymarket did not immediately respond to requests for additional comment.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Live Personalized Betting Is Coming to Amazon’s NBA Streams

The streamer draws heavily from prior experience with the NFL and NASCAR.
Saudi Arabia’s Public Investment Fund (PIF), one of several premier sponsors for the BNP Paribas Open tennis tournament, as seen on Stadium 2 at the Indian Wells Tennis Garden in Indian Wells, Calif., on March 14, 2024.

The Australian Soccer Player Running Saudi PIF’s SURJ Sports

SURJ Sports CEO Danny Townsend says there is “genuine commitment” to social change.

Jozy Altidore: Becoming an NFL Owner Is Like Going Back to School

Altidore owns stakes in the Bills and the NWSL’s Bay FC.
Sep 21, 2025; Foxborough, Massachusetts, USA; New England Patriots wide receiver Kyle Williams (18) completes a pass during the third quarter at Gillette Stadium.

Patriots Become Fourth NFL Team to Add Private-Equity Investor

The minority stake sales value the team at more than $9 billion.

Featured Today

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium
September 26, 2025

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.
Sep 18, 2025; Orchard Park, New York, USA; Buffalo Bills quarterback Josh Allen (17) runs the ball against the Miami Dolphins in the second half at Highmark Stadium.
exclusive

Kalshi, Polymarket Sought to Buy Prediction-Market Platform Novig

Novig is available in close to 40 states.
Sep 8, 2025; Chicago, Illinois, USA; Chicago Bears quarterback Caleb Williams (18) rushes the ball past Minnesota Vikings safety Theo Jackson (26) during the second half at Soldier Field.
exclusive
September 10, 2025

Americans See Little Difference Between Prediction Markets and Betting

A survey found 85% of respondents believe sports event contracts are gambling.
September 12, 2025

FanDuel, Jaguars Reach $5M Deal Over Employee Theft

A Jaguars employee stole $20 million and gambled much of it with FanDuel.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Sep 4, 2025; Philadelphia, Pennsylvania, USA; Philadelphia Eagles cornerback Adoree' Jackson (8) tackles Dallas Cowboys wide receiver CeeDee Lamb (88) during the third quarter of the game at Lincoln Financial Field.
September 5, 2025

Kalshi’s $27M NFL Opener Runs Into Tribal Challenge

California Tribes want Kalshi forced to implement geofencing.
Eagles
September 4, 2025

FanDuel Paying $80K for Eagles Trains Amid Transit Funding Fight

The gambling company is giving stopgap transit funding in Philadelphia.
Sep 1, 2025; Chapel Hill, North Carolina, USA; TCU Horned Frogs tight end DJ Rogers (0) catches a touchdown pass as North Carolina Tar Heels defensive back Kaleb Cost (21) defends in the fourth quarter at Kenan Stadium.
September 3, 2025

Polymarket Moves Closer to Reentering the U.S.

There’s yet more prediction markets momentum as the NFL season kicks off.
during the fourth quarter at Memorial Stadium in Clemson, S.C. Saturday, August 31, 2025.
September 2, 2025

Underdog Bets on Prediction Markets With Crypto.com Deal

Sports event contracts will be offered in 16 states.