Shares of Intercontinental Exchange, parent company of NYSE, surged over 4% in premarket trading as reports suggested a potential $2 billion stake in prediction-market maker Polymarket. The deal could value Polymarket between $8 billion and $10 billion, reflecting the growing popularity of prediction markets in the mainstream.

Polymarket has been on the rise, receiving investments from firms like 1789 Capital, backed by Donald Trump Jr. The company recently got approval to launch in the U.S., with CEO Shayne Coplan expressing gratitude to the CFTC for their swift approval process.

As prediction markets gain traction, Polymarket’s rival Kalshi has seen increased trading volume, particularly with the introduction of sports-related contracts. The industry’s growth is attracting attention from investors, driving up interest and valuations in prediction-market platforms.

Read more at CNBC: NYSE-owner Intercontinental Exchange $2 billion Polymarket stake