Intercontinental Exchange Inc., owner of the New York Stock Exchange, plans to invest as much as $2 billion in cash in Polymarket, a crypto-based betting platform.
The transaction values the company, which lets traders wager on the outcome of real-world events such as elections and sports, at roughly $8 billion, ICE said in a statement Tuesday.
ICE will become a global distributor of Polymarket’s event-driven data, providing customers with sentiment indicators on topics in the market, according to the statement. The exchange operator and Polymarket have also agreed to partner on future tokenization initiatives.
