Traders work on the New York Stock Exchange Prosecutor’s Office.
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Actions from New York Stock Exchange Parent, Intercontinental exchangeincreased by more than 3% in pre-commercial after the company announced that it has taken a 2 billion dollars in the Polymarket prediction market platform.
The agreement estimates the polymarket at around 8 billion dollars, the two companies said in a statement.
“There are opportunities on the markets that ice and polymarket can be used in a unique way and we are delighted to know where this investment can take us,” said Jeffrey Sprecher, CEO of Intercontinental Exchange, in a press release.
The agreement occurs while the prediction markets become more common, with the rival of the Polymarket Kalshi benefiting from a strong increase in the volume of trading thanks to the implementation of contracts related to sport. Revenues from the prediction market industry can increase to $ 8 billion by 2030, because it takes market share from the sports game industry, according to Piper Sandler’s analysis.
Polymarket, earlier this year, also obtained an investment of 1789 capital, which is supported by Donald Trump Jr.
The founder and CEO of Polymarket, Shayne Coplan, wrote that: “By combining the institutional scale of the ICE and the credibility with the prudence of polymarket consumers, we will be able to deliver world class products for the modern investor.”
The agreement was reported for the first time by the Wall Street Journal.
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