NYSE parent may invest again in Polymarket as valu
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NYSE parent may invest again in Polymarket as valuation crosses $20B: report
Intercontinental Exchange has signaled it may put more money into Polymarket’s next funding round after building a $1.64 billion stake in the prediction market platform.
Bloomberg reported Thursday that ICE Chief Executive Officer Jeff Sprecher said the New York Stock Exchange parent would consider participating if its involvement could help Polymarket complete the round.
“We’ll look at it, if it would help the round in order to have our imprimatur on it, we are always interested,” Sprecher told Bloomberg Television.
ICE may join Polymarket’s new funding round
Polymarket is seeking fresh capital at a valuation above $20 billion, according to Bloomberg, more than twice the valuation attached to the company in October. The report said the platform has continued to draw investor interest as prediction markets expand across sports, politics, geopolitics and other event based contracts.
ICE has already participated in two Polymarket funding rounds, with Bloomberg putting the exchange operator’s stake at $1.64 billion by March. Sprecher said the relationship was designed partly to allow the companies to exchange information and expertise, instead of turning ICE into a regular investor in technology startups.
As crypto.news reported in March, ICE invested another $600 million in Polymarket as part of a previously announced commitment of up to $2 billion. ICE said at the time that the investment was not expected to have a material effect on its financial results or capital return plans.
“The reality is we’re not a venture firm,” Sprecher said Thursday, describing the Polymarket investment as a relationship built around the “transfer of information and expertise.”
The distinction is important to ICE’s approach, according to Sprecher, because the company operates some of the world’s largest financial exchanges and c
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