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Shares of New York Stock Exchange parent, Intercontinental Exchange, rose more than 4% in the premarket after The Wall Street Journal, citing sources, reported that the company was nearing a deal for a $2 billion stake in Polymarket.
The deal is expected to value prediction-market maker Polymarket between $8 billion and $10 billion, the report said.
The report comes as prediction markets become more mainstream, with Polymarket rival Kalshi enjoying sharp trading volume increases thanks to the implementation of sports-related contracts.
Polymarket, earlier this year, also secured an investment from 1789 Capital, which is backed by Donald Trump Jr. The company was also greenlit last month to launch in the U.S.
“Polymarket has been given the green light to go live in the USA by the @CFTC,” CEO Shayne Coplan said in a post on X. “Credit to the Commission and Staff for their impressive work. This process has been accomplished in record timing.”
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