Polymarket is taking center stage in the discussion around prediction markets after pursuing a funding round targeting a $12 billion valuation and sealing a major strategic partnership with Intercontinental Exchange (ICE). The combination of institutional capital, fast-growing trading volume, and regulatory progress now places the platform on a path that increasingly resembles that of a company preparing for a public listing.
How ICE’s Investment Signals a New Era for Prediction Markets
The agreement with ICE includes a commitment to invest up to $2 billion, and—according to reports—set a pre-money valuation near $8 billion before ICE’s contribution. Polymarket has since pursued additional funding in a range estimated between $12 and $15 billion, a dramatic climb from its previous $1 billion valuation in June 2025, when it raised $200 million in a round led by Founders Fund.
Polymarket has processed $18.1 billion in cumulative trading volume, with some weeks exceeding $2 billion between Polymarket and its main competitor, Kalshi—liquidity levels that public markets tend to reward. ICE CEO Jeffrey Sprecher described prediction-market data as “a key ingredient for financial products,” highlighting the intention to distribute these signals to global institutional clients and underscoring Polymarket’s emerging strategic value.
The company has also cleared critical regulatory hurdles that shaped its return to the U.S. market. In 2022, Polymarket paid a $1.4 million CFTC fine for offering unregistered binary options. Its re-entry accelerated with the reported $112 million acquisition of QCEX, a CFTC-licensed exchange and clearinghouse, giving Polymarket the regulatory foundation required to operate legally within the United States.
Meanwhile, Polymarket has pursued an expansion strategy combining new products and high-visibility partnerships: integrations with PrizePicks, a multi-year deal with UFC and Zuffa Boxing, and the distribution of market signals on Google Finance and Yahoo Finance. The team is also preparing Polymarket Pro, a version tailored for institutional traders, alongside a native token, POLY, and an airdrop confirmed by leadership—though the rollout is expected only after full U.S. access is secured, potentially in 2026.
Altogether, Polymarket’s institutional backing, high-volume growth, and acquisition of regulatory infrastructure place it firmly on a classic pre-IPO trajectory. For investors and compliance teams, the decisive milestone will be the execution of its regulated U.S. re-entry and the publication of the final terms of its funding round. Next verified milestone: ICE’s finalized investment amount and the release of official financing round documents.