Polymarket "valued at 8 billion magnesium" received a US$2 billion investment from Intercontinental Exchange. ICE rose 3.7% before the market opened.

Intercontinental Exchange, the parent company of the New York Stock Exchange, invested US$2 billion in Polymarket. ICE shares rose 3.7% before the market opened.
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Intercontinental Exchange, the parent company of the New York Stock Exchange, issued an announcement on October 7, announcing a strategic investment of up to US$2 billion in the prediction market platform Polymarket. This investment also allowed Polymarket to is valued at approximately $8 billion.

In addition to capital investment, Intercontinental Exchange stated that it will also become a global distributor of Polymarket event-driven data, providing institutional investors with sentiment indicators on market-related topics, covering market sentiment analysis in politics, sports, culture and other fields. At the same time, the two parties also reached an agreement to jointly explore cooperation opportunities in tokenization projects in the future and open up new paths for financial technology innovation.

For this cooperation, Jeffrey C. Sprecher, Chairman and CEO of Intercontinental Exchange, said: "This investment will combine ICE, the owner of the New York Stock Exchange, founded in 1792, with a revolutionary company that is pioneering changes in the field of decentralized finance. The Polymarket team led by Shayne Coplan is focused on building user-driven products, and we look forward to working with them to explore new market opportunities."

At the same time, Polymarket founder Shayne Coplan also said: "With ICE's cooperation is an important milestone in bringing prediction markets into the financial mainstream. Combining ICE's institutional scale and credibility with Polymarket's keen consumer insights, we will provide modern investors with world-class products."

ICE rose 3.7% before the market opened. ICE rose 3.7% before the U.S. stock market opened, with a market value of $91 billion.