Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, is investing up to $2 billion in the crypto-based prediction marketplace Polymarket, valuing it at approximately $8 billion. This partnership aims to legitimize prediction markets and expand their reach, particularly in the U.S. market, where Polymarket has faced regulatory challenges.

Shayne Coplan, founder and CEO of Polymarket, has become the youngest self-made billionaire following a $2 billion investment from the Intercontinental Exchange at an $8 billion valuation. The platform, which allows users to wager on real-world outcomes using cryptocurrency, gained significant traction during the 2024 U.S. presidential election, despite facing regulatory challenges and penalties in the past. With a recent acquisition of a licensed exchange, Polymarket is now positioned as a legitimate player in the gambling and financial forecasting industries.

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, plans to invest up to $2 billion in Polymarket, valuing the prediction market at approximately $8 billion. This significant investment aims to bolster Polymarket's credibility and assist in its efforts to re-establish a presence in the U.S. market.

Polymarket has achieved a milestone with 13,800 new markets created in August as it prepares to re-enter the U.S. market following a favorable ruling from the Commodity Futures Trading Commission. Despite this growth, overall trading volume has declined, with active traders at their lowest levels since last October.