Intercontinental Exchange has expanded its bet on prediction markets with a new $600 million investment in Polymarket.
Summary
- ICE invested $600 million more in Polymarket as part of its $2 billion commitment plan.
- Prediction markets are growing fast as exchanges target new trading demand beyond traditional derivatives products.
- Kalshi raised $1 billion recently, increasing competition in the event-based prediction markets sector globally.
The deal adds to an earlier commitment and comes as the sector attracts more capital and more attention from large financial firms.
ICE, the parent company of the New York Stock Exchange, said on Friday that it invested another $600 million in Polymarket. The company said the new funding is part of its previously announced plan to invest up to $2 billion in the crypto-based prediction market platform.
The company first announced its Polymarket investment plan in October 2025. With the latest round, ICE’s total committed investment has reached about $2 billion, according to the company and related reporting.
ICE said the investment forms part of Polymarket’s latest fundraising round. It also said Polymarket’s valuation will be disclosed after the fundraising process is completed. ICE added that the investment is not expected to have a material effect on its financial results or capital return plans.
Prediction markets have grown quickly over the past two years. Segment has moved from a niche part of crypto and academic finance into a fast-growing trading market with rising user activity and volumes. Analysts told Reuters these products could help exchanges reach more retail traders and expand trading revenue beyond traditional futures and options.
Kalshi deal adds competitive pressure
The new ICE investment comes shortly after rival prediction market Kalshi raised about $1 billion at a reported $22 billion valuation. The funding round gave Kalshi a fresh boost as competition in event-based trading continues to grow.
The rapid growth of both Polymarket and Kalshi shows how prediction markets are moving deeper into mainstream finance. At the same time, the sector continues to face regulatory scrutiny as trading volumes and investor interest keep rising.
