- Shayne Coplan, the CEO of Polymarket confirmed the announcement on Tuesday
- “Together, we’re building the next evolution of markets,” Polymarket announced
- Polymarket witnessed mainstream adoption during the Presidential election last year
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), has pledged to invest $2 billion in predictions platform Polymarket. With this, the valuation of Polymarket will climb to $9 billion. The deal will directly link Polymarkets with the New York Stock Exchange (NYSE).
Shayne Coplan, the CEO of Polymarket confirmed the announcement on Tuesday, October 7. He said that this partnership with ICE will move the prediction markets into the mainstream financial sector — making for a “monumental” step forward for DeFi.
“ICE will also begin distributing Polymarket data to thousands of financial institutions around the world. There is so much to build when you combine the force of ICE’s institutional scale and credibility with Polymarket’s consumer + cultural savvy and distribution,” Coplan said.
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The official X handle of Polymarket also shared details on the deal with the ICE on Tuesday.
“Together, we’re building the next evolution of markets. This is just the beginning,” the platform posted.
A crypto-focused prediction market, Polymarket was launched in 2020 and is headquartered in Manhattan, New York. The platform allows users to bet and vote on yes-or-no questions on topics ranging from crypto, stocks, sports, and politics. Founders Fund, billionaire Peter Thiel’s venture-capital firm, is among investors in Polymarket.
The platform witnessed mainstream adoption during the Presidential election last year. As per Coplan, ICE CEO Jeffrey Sprecher is exploring ways to implement blockchain to elevate the financial markets that is undergoing a major technical overhaul.
“ICE is the one remaining founder-led exchange company, and Jeff is all-in on utilizing his assets, including NYSE, to usher in a new financial era of tokenization,” Coplan noted.
