"The move marries the more traditional, regulated NYSE with the riskier prediction markets, and is generally seen as a move by the iconic, 233-year-old exchange to keep up with its competitors by capitalizing on the growing popularity of betting on all kinds of things. "Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream," Shayne Coplan, CEO of Polymarket, told Fast Company. "Together, we're expanding how individuals and institutions use probabilities to understand and price the future . . . Realizing the potential of new technologies, such as tokenization, will require collaboration between established market leaders and next-generation innovators.""
"Launched in 2020, Polymarket allows users to bet on the outcome of real-world events, such as hot topics like political elections, upcoming sports events, weather patterns, awards (this year's Noble Peace Prize winner), predictions in the finance market ("Will Bitcoin hit above $120,000 today?"), and random pop-culture questions ("What will be the highest grossing movie in 2025? "). A look at the platform on Tuesday shows some of the biggest bets going were around questions like: " When will the Government shutdown end?" (68% said October 15 or later); "Who will win the New York City Mayoral Election?" (Zohran Mamdani at 89%, Andrew Cuomo at 10%); and "Who is going to be the World Series Champion 2025? " (so far, the Los Angeles Dodgers are edging out the Toronto Blue Jays 36% to 19%)."
Intercontinental Exchange (ICE) plans to invest up to $2 billion in Polymarket, bringing NYSE-linked capital into crypto-based prediction markets. The investment pairs a traditional, regulated exchange ecosystem with higher-risk betting markets and positions ICE to distribute Polymarket's event-driven data. Polymarket, launched in 2020, enables users to wager on elections, sports, weather, awards, finance questions and pop-culture outcomes. Platform activity shows strong user interest in government shutdown timing, New York City mayoral odds, and World Series predictions. ICE values prediction-market activity at roughly $8 billion and emphasizes tokenization and collaboration between established market leaders and innovators.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]