**Intercontinental Exchange (ICE)** completed an additional investment of $600 million in **Polymarket** on March 27, increasing its total equity value to $1.6 billion and fulfilling the commitment made in October 2025.
ICE, the parent company of the New York Stock Exchange (NYSE), also plans to purchase up to $40 million worth of securities from existing holders.
This transaction values Polymarket at approximately $9 billion, which is somewhat lower than its competitor **Kalshi**, which raised $1 billion earlier this month and was valued at $22 billion.
Through its investment, ICE has secured the rights to distribute Polymarket's event-based data globally and plans to package it as data offerings for institutional clients.
Data utilization drives investment logic.
ICE's equity structure is designed to focus on data monetization rather than simple venture investment returns.
The company launched Polymarket Signals and Sentiment in February 2026, transitioning real-time prediction market prices into a structured data feed for institutional traders.
ICE Chairman **Jeffrey Sprecher** characterized this investment as an effort to build 'a new layer of financial intelligence' rather than a traditional equity investment.
Polymarket processed $23.2 billion in trading volume in February 2026, which represents an increase of over 1,200% compared to the same period last year.
This platform plans to introduce taker fees across all categories starting March 30, and is expected to generate approximately $300 million in annualized revenue based on the recent 30-day trading volume.
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Accelerating regulatory headwinds.
This investment was made amid increased scrutiny from lawmakers. Massachusetts Congressman **Seth Moulton** issued a directive banning prediction market trading to his staff this week due to concerns over insider trading.
Bipartisan lawmakers introduced the PREDICT bill in early March, expanding similar restrictions to members of Congress, high-ranking officials, and their families.
California Governor **Gavin Newsom** signed an executive order on March 27 prohibiting state government officials from using insider information in prediction markets.
Senators separately proposed a ban on sports contracts and war-related markets in response to the controversial betting surrounding U.S. military attacks and political events.
Calshi was valued at $22 billion just under a year after being valued at $2 billion on June 20, 2025, shortly after winning a legal battle with the CFTC that paved the way for election contract approval.
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