Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, said Friday it has completed a new $600 million direct cash investment in prediction-market platform Polymarket. ICE also expects to buy up to $40 million of Polymarket securities from existing holders, advancing a commitment it first announced in October 2025.
The $600 million injection is part of a broader plan ICE unveiled in October to invest up to $2 billion in Polymarket, one of the largest institutional moves into the prediction-market space. ICE did not disclose terms for the new tranche or any updated valuation for Polymarket.
ICE’s continued funding signals a desire to increase exposure to prediction markets even as the sector faces mounting regulatory scrutiny in the United States. Polygon Labs’ global head of business, Aishwary Gupta, characterized the investment as evidence of growing institutional interest in on-chain market platforms and pointed to Polymarket’s scaling on Polygon as an example of blockchain infrastructure enabling high-frequency, real-time market activity.
Regulatory pressure on the industry has risen recently. At least 11 states are pursuing legal action against platforms such as Polymarket and Kalshi. Nevada issued a temporary ban on Kalshi’s operations in the state, and Arizona has filed criminal charges alleging Kalshi operated an illegal gambling business. Several other states have issued cease-and-desist orders or are considering legislation that would more tightly regulate prediction markets.
In response to scrutiny, Polymarket updated its rules to more explicitly ban trading on confidential information, addressing concerns about insider-style activity related to politics, sports and geopolitics.
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