Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, said Friday it completed a new $600 million direct cash investment in prediction-market platform Polymarket. ICE also said it expects to purchase up to $40 million of Polymarket securities from existing holders, adding to a previously announced commitment made in October 2025.
In October, ICE said it would invest up to $2 billion in Polymarket, one of the largest institutional moves into the prediction market sector. The latest transaction advances that arrangement, though ICE did not disclose terms for the new investment or any valuation.
ICE’s move signals an intent to expand exposure to prediction markets even as the sector faces evolving regulatory scrutiny in the United States.
Polygon Labs’ global head of business, Aishwary Gupta, said ICE’s investment reflects growing institutional interest in on-chain market platforms and highlighted Polymarket’s scaling on Polygon as an example of blockchain infrastructure supporting high-frequency, real-time market activity.
Regulatory pressure has increased: at least 11 states are pursuing legal action against platforms like Polymarket and Kalshi. Nevada issued a temporary ban on Kalshi’s operations in the state, while Arizona filed criminal charges alleging Kalshi operated an illegal gambling business. Several other states have issued cease-and-desist orders or are considering new legislation targeting prediction markets.
Polymarket recently updated its rules to more explicitly prohibit trading on confidential information as lawmakers and critics raise concerns about insider-style activity around politics, sports and geopolitics.
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