The owner of the New York Stock Exchange (NYSE) is reportedly negotiating a major investment in the crypto prediction platform Polymarket, with a deal potentially worth $2 billion and a post-investment valuation estimated between $8 billion and $10 billion, according to WSJ sources familiar with the matter.
The investment, if completed, could help Polymarket re-enter the U.S. market, strengthening its regulatory standing and investor confidence.
ICE Leads the Round
Intercontinental Exchange (ICE) — the financial services giant that owns NYSE with a market capitalization exceeding $90 billion — is leading discussions for the investment. WSJ notes that the terms are still being finalized and the deal structure could change before it is completed.
Analysts suggest that a backing from ICE could enhance credibility for Polymarket, paving the way for expanded operations in the United States and further partnerships within regulated markets.
Polymarket’s Recent Moves
Polymarket has been actively positioning itself for U.S. market compliance:
- In July 2025, the platform acquired the derivatives exchange QCX for $112 million, enabling it to operate legally in the U.S.
- QCX had previously secured a license from the Commodity Futures Trading Commission (CFTC), adding a regulatory foundation for Polymarket’s expansion.
In September 2025, industry insiders reported that Polymarket was preparing for a large funding round, with potential valuations around $9 billion, and at least one investor proposing a deal as high as $10 billion.
With ICE potentially investing and prior acquisitions strengthening compliance, Polymarket is poised to reassert its presence in the U.S. crypto and prediction markets, marking a significant milestone in the platform’s growth strategy.
