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Posted on: October 7, 2025, 10:45h.
Last updated on: October 7, 2025, 10:45h.
- Polymarket valuation soars to $9 billion to $10 billion
- Exchange operator is investing $2 billion in Polymarket at pre-investment valuation of $8 billion
- ICE owns the New York Stock Exchange
Prediction markets operator Polymarket’s valuation swelled as high as $10 billion following a $2 billion investment by Intercontinental Exchange (NYSE: ICE).
The owner of the New York Stock Exchange reached an agreement with Shayne Coplan’s company under which it will invest $2 billion in the event contract purveyor at a pre-money valuation of $8 billion. On a post-investment basis, Polymarket is now valued at $9 billion to $10 billion, confirming the accuracy of reports that surfaced last month indicating the company was attempting to raise capital in that valuation range.
Alongside its investment, ICE will become a global distributor of Polymarket’s event-driven data, providing customers with sentiment indicators on topics of market relevance. Additionally, ICE and Polymarket have also agreed to partner on future tokenization initiatives,” according to a statement.
ICE said its investment in Polymarket will be funded in cash and not affect the exchange operator’s 2025 financial results or its plans to return capital to shareholders. The financial services firm said it will discuss its Polymarket investment in greater detail when it delivers third-quarter results on Oct. 30.
Polymarket Valuation Soars At Least Ninefold in Four Months
Even if ICE’s investment in Polymarket involves the prediction market operator at “just” $9 billion, that represents a stunning jump in a matter of months.
In June, direct competitor Kalshi completed a $185 million Series C funding round valuing it at $2 billion. Around the same time, Polymarket finalized a capital raise valuing that company at $1 billion. Fast-forward to October and Polymarket is now worth at least nine times more than what it was just four months ago.
That climb has occurred despite the fact that Polymarket still isn’t authorized to do business in the US, meaning it’s missing out on offering football event contracts to prospective clients in this country. Those contracts have been a boon for rival Kalshi, leading to a consistent string of record-breaking volume on that prediction market. Polymarket is expected to soon relaunch in the US and in recent days has been teasing football wagers.
After being valued at $2 billion in June, Kalshi is rumored to be mulling additional financing that would value it at $5 billion.
Line Between Prediction, Financial Markets Further Blurs
Professional investors, including hedge funds, are among the most active participants in prediction markets. It’s one reason why some traders and retail investors swear by the accuracy of prediction markets: the belief that pros are staking their own capital and reputations with trades on yes/no exchanges like Kalshi and Polymarket.
The ICE/Polymarket deal represents further blurring of the line between traditional finance and derivatives that some experts believe are directly comparable to sports bets. In June, CME Group (NASDAQ: CME) and Flutter Entertainment’s (NYSE: FLUT) FanDuel said they’ll partner on event contracts tied to economic events, equity index prices, and other financial assets. The CME/FanDuel contracts will be timed and appear to be a yes/no equivalent of microbetting in sports wagering.
“Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream,” said Coplan in the statement.
Polymarket investors include Peter Thiel’s Founders Fund, Donald Trump Jr., and Ethereum co-founder Vitalik Buterin, among others. Trump Jr.’s 1789 Capital firm made a double-digit, multimillion-dollar investment in Polymarket in August. He occupies advisory roles at both Kalshi and Polymarket.
