Intercontinental Exchange Inc. (ICE) plans to invest up to $2 billion in Polymarket, a cryptocurrency based prediction market. Polymarket has a pre-investment valuation of $8 billion. ICE will become a global distributor of event-driven data from the platform and collaborate on tokenization projects. Polymarket recently returned to the U.S. market by acquiring QCX for $112 million. The platform gained popularity during the 2024 U.S. presidential election. Competitors like Kalshi Inc. and Crypto.com are also expanding into sports related contracts due to improved regulatory climate. This collaboration marks a significant step towards integrating prediction markets into the financial mainstream.

Read more at Nasdaq MarketSite: Intercontinental Exchange To Invest Up To $2 Bln In Crypto Prediction Platform Polymarket