Intercontinental Exchange (ICE.N) will invest up to $2 billion in Polymarket. The New York Stock Exchange owner moves into event-driven markets on Tuesday. This asset class has gained widespread popularity recently. Users wager on outcomes across sports, entertainment, politics and the economy in prediction markets. Bets include when the U.S. government shutdown will end. People also bet on the least-streamed song on Taylor Swift’s latest album. Institutional interest has surged since the presidential election last year.

Polymarket Secures $8 Billion Valuation After ICE Investment

Polymarket received an $8 billion pre-money valuation through ICE’s investment. The world’s largest prediction market prepares to re-enter the U.S. market. American users faced restrictions for more than three years. The U.S. Commodity Futures Trading Commission approved the company last month. Polymarket acquired QCEX for $112 million. QCEX operates as a CFTC-licensed derivatives exchange and clearinghouse. This acquisition enables the company to relaunch in the country.

President Donald Trump’s regulators have eased market oversight. They focus on nascent sectors such as event contracts and crypto. Ventures from entities connected to him and his family frequently appear in these sectors. Reuters reported earlier this year that Polymarket neared a valuation exceeding $1 billion. A source provided this information.

Real Prize

ICE will use Polymarket’s event-driven data under the latest deal. The company will provide sentiment indicators on relevant market topics. Michael Ashley Schulman serves as partner and CIO at Running Point Capital Advisors. He said the real prize for ICE extends beyond clearing contracts. ICE wants to monetise the data and sell odds as sentiment factors. These factors will sit alongside rates and credit, where every rumour pays a fee.

ICE shares rose marginally in afternoon trading. Both companies plan to collaborate on future tokenisation initiatives. These initiatives blend traditional financial markets with blockchain-based assets. Trading technologies also form part of these plans.