Intercontinental Exchange Inc. (NYSE:ICE) traded higher Tuesday after the New York Stock Exchange owner unveiled a strategic investment in Polymarket, the event-probability and prediction market platform.
Intercontinental Exchange said it will commit up to $2 billion to Polymarket in a cash deal that implies an approximately $8 billion pre-investment valuation.
The deal connects one of traditional finance’s largest market-infrastructure operators to a fast-growing venue where traders buy and sell outcomes tied to news, politics, sports, and culture.
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Intercontinental Exchange will also distribute Polymarket’s event-driven data globally, giving clients sentiment signals to inform trading and risk decisions.
Alongside the investment, the companies agreed to collaborate on tokenization initiatives.
Intercontinental Exchange said the tie-up could broaden how institutions use probabilities to price future scenarios and create new data products around event outcomes.
“Our investment blends ICE, the owner of the New York Stock Exchange, which was founded in 1792, with a forward-thinking, revolutionary company pioneering change within the Decentralized Finance space,” said Jeffrey C. Sprecher, ICE chair and chief executive officer.
“Shayne Coplan has assembled a team at Polymarket to create a user-driven company relentlessly focused on product, building usage and distribution. There are opportunities across markets which ICE together with Polymarket can uniquely serve and we are excited about where this investment can take us.”
Market Backdrop
Earlier this month, Intercontinental Exchange highlighted September activity across its venues, noting double-digit year-over-year gains in total open interest, with records in energy, oil, and multi-currency interest-rate futures.
Equity trading on the NYSE also accelerated, with cash equities and options average daily volumes up from a year earlier.
Intercontinental Exchange expects the investment to be funded in cash and not to materially affect its 2025 results or capital-return plans.
Management said it will provide more details on the third-quarter earnings call scheduled for Oct. 30, 2025.
Price Action: ICE shares were trading higher by 2.83% to $163.56 at last check Tuesday.
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