Polymarket is advancing a new round of financing, with a target estimate of over $20 billion. The New York Stock Exchange parent company Intercontinental Exchange (ICE) indicated that, if its participation contributed to the completion of the round, the company would assess whether additional investments were made.
The valuation was significantly higher than last year.
ICE CEO Jeff Sprecher made this statement in an interview with Bloomberg TV. If the current round of finance is completed according to target, Polymarket ' s valuation will increase significantly over October 2025. On the other hand, ICE announced for the first time an investment relationship with Polymark, with a market estimate of about $8 billion.
ICE had previously invested more in the platform. Public information indicates that ICE initially agreed to invest up to $2 billion and added $600 million in March of this year.
ICE values data and market infrastructure
According to ICE, this cooperation goes beyond financial investment to include collaboration at the data and market infrastructure levels. According to Sprecher, ICE does not intend to shift to a wide-ranging investment in science and technology, but rather to complement its traditional exchange operations with Polymark data and experience in predicting the market.
In this way, ICE's interest in Polymark is more strategic. For traditional exchange groups, with trade, clearing and market data at their core, predicting data flows from markets, trading signals and institutional dissemination capabilities are direct resources.
The market is expected to attract more Wall Street money.
At a time when Polymraket finance, markets are projected to attract more institutional capital. Kalshi, its competitor, reported an up-to-date estimate of $22 billion, indicating that the level of funding on this track is still rising.
Such platforms usually allow users to trade contracts around elections, sports events, economic data and geo-incidents. As the scale expands, the competition for regulatory attribution rises, with the focus on whether such products should be covered by United States federal derivative regulation or dealt with under state-level lottery laws.
Chief Executive Vladimir Tenev also stated on this issue that the projected market should continue to be regulated by the United States Commodity Futures Trading Commission (CFTC) rather than be managed by the states.
ICE is cautious about the contract.
Compared to the forecast market, ICE is less interested in the permanent contracts that are common in the encryption industry. Sprecher states that this type of product does not meet the needs of the ICE ' s main client group, as its core clients continue to rely primarily on the use of traditional futures to hedge.
This explains why ICE prefers to deepen its cooperation with Polymark instead of focusing on the platform of a lasting contract. For ICE, the projected market is closer to its current business extension.