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. Summary ICE may invest in Polymarket again after building a $1.64 billion stake by March. Polymarket is seeking fresh capital at a valuation above $20 billion. ICE CEO Jeff Sprecher said the investment relationship centers on exchanging information and expertise. Sprecher said perpetual futures do not fit ICE’s core hedging client base. 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...