By Tyler Warner
6 min read
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.
GM!
Today’s top news:
It looks like the recent raise rumors for Polymarket were true.
And they came with an even more bullish twist for the leading prediction market.
The New York Stock Exchange’s parent, Intercontinental Exchange (ICE), will invest up to $2B in Polymarket at a $9B valuation.
And arguably more importantly, become the global distributor of its event-market data.
ICE said it will take a stake valuing Polymarket around $8–9B and pipe Polymarket’s event-driven data to institutions worldwide, with collaboration on tokenization also on the table.
The deal lands as Polymarket readies a regulated U.S. relaunch via its acquisition of QCX/QC Clearing and a CFTC no-action letter that clears near-term listing mechanics.
“We are excited to announce that Intercontinental Exchange (ICE) — the parent company of NYSE, is making a $2b strategic investment at a $9b post-money valuation. Together, we’re building the next evolution of markets.” - Polymarket on X
“Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream. But in addition to that, it’s a monumental step forward for DeFi. ICE is the one remaining founder-led exchange company, and Jeff is all-in on utilizing his assets, including NYSE, to usher in a new financial era of tokenization. We’re humbled to be working together on this endeavor. ICE will also begin distributing Polymarket data to thousands of financial institutions around the world. There is so much to build when you combine the force of ICE’s institutional scale and credibility with Polymarket’s consumer + cultural savvy and distribution.” - Shayne Coplan on X
“The polymarket story is interesting because it forces you to believe in something. It is probably the first time (after stables) that we see a primitive break through to the mainstream and define a new market category.” - X user Joel John
ICE operates one of finance’s largest data pipes (the ICE Global Network / ICE Consolidated Feed), which aggregates and distributes content from 600+ global sources to banks, asset managers, ISVs and terminals.
Putting Polymarket’s odds into that fabric means real distribution.
Brokers, quant desks, risk systems, and analytics platforms all seeing live event probabilities next to equities, rates and FX, powered by Polymarket.
Add Polymarket’s Stocktwits tie-up for retail reach, and you’ve got institutional and consumer channels lighting up at once.
This is less “betting site gets cash” and more information market becomes an asset-class data feed.
Combine this partnership with the expected US app launch any day now, and Polymarket looks to be on a mega-upwards trajectory.
And $9B may be very cheap in hindsight…
A few Crypto and Web3 headlines that caught my eye:
Here’s a rundown of major token, protocol and airdrop news from the day:
Here is the list of other notable headlines from the day in NFTs:
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