Polymarket valuation surges to $9B after ICE investment

Polymarket announced in a post on X that Intercontinental Exchange (ICE) will make a $2 billion strategic investment at a $9 billion post‑money valuation, confirming earlier reports. The tie‑up comes weeks after U.S. derivatives regulators signaled limited comfort with certain event‑contract models via a CFTC staff no‑action letter, clearing a path for Polymarket to operate in the United States.

Polymarket runs prediction markets where users buy and sell yes/no shares on real‑world outcomes – from elections and macro releases to company earnings and pop culture. Prices range from $0 and $1, and winning shares settle at $1 in stablecoin. The platform uses a Polygon‑based model and now supports Bitcoin deposits to broaden funding options.

In early September, the CFTC issued a staff no‑action letter outlining conditions under which certain event contracts may proceed. Polymarket’s CEO Shayne Coplan said that cleared the way to go live in the U.S. The company has also been preparing for broader access by acquiring derivatives venue QCEX in July and expanding into earnings‑forecasting markets over the summer.

ICE’s backing connects traditional exchange infrastructure – including surveillance, compliance and connectivity – with crypto‑native prediction rails. For an operator that already runs some of the world’s busiest markets, event contracts offer news‑driven, high‑frequency trading that can attract both retail and professional flow.