Polymarket, founded by Shayne Coplan in 2020, is partnering with New York Stock Exchange owner ICE. ICE is investing up to $2 billion in Polymarket, valuing the crypto-based prediction marketplace at around $8 billion. The partnership aims to bring prediction markets into the financial mainstream.

Despite regulator scrutiny, Polymarket’s partnership with ICE provides legitimacy and access beyond retail investors. ICE will distribute Polymarket’s data and collaborate on tokenization initiatives. The move may help Polymarket re-enter the U.S. market after being blocked in 2022.

ICE CEO Jeffrey Sprecher sees the investment as blending tradition with innovation in the Decentralized Finance space. The deal comes as prediction markets, like Polymarket, gain popularity. The platform formed a partnership with Elon Musk’s X in June to provide insights for the predictions platform.

Polymarket is working on a comeback in the U.S. after being blocked from U.S.-based traders in the past. Federal investigations into the company have ended without charges. CEO Coplan announced that U.S. consumers will soon be able to buy Polymarket contracts, suggesting a return to the U.S. market is imminent.

Read more at Yahoo Finance: NYSE Owner ICE Commits Up to $2B Investment in Betting Platform Polymarket