Intercontinental Exchange (ICE) is near to putting $2 billion into Polymarket, a blockchain prediction market, with an announcement expected around 7 October 2025. The Wall Street Journal and its source say the move links Wall Street money to a crypto product that already pulls in users and liquidity, and that traders, exchanges and regulators will feel the consequences.
The report says the cash would value Polymarket at about $8–$10 billion and would rank the site as a top crypto prediction venue. Polymarket and Kalshi together handle more than $1 billion in monthly bets, Polymarket alone drew over 35 million visitors in 2025, and wager volumes are described as “billions.”
The platform uses Chainlink or UMA to settle results, with both supplying outside data to smart contracts so outcomes are fixed automatically. 1789 Capital has also put money into the company. An oracle is a service that feeds external data to a smart contract so it can settle without human input.
Consequences highlighted in the report
A regulated exchange operator now backs the Polymarket product, meaning users and partners may adopt it faster. Fresh funds will pay for more markets, marketing, and engineers, which should lift volume and depth.
A traditional group that owns clearing and custody businesses touching a betting site may prompt watchdogs to rewrite rules on KYC, AML, and asset storage.
Every market outcome relies on Chainlink or UMA; if either source fails or is challenged, compliance and institutional trust are at risk.
If the deal closes, it will mark a clear step where legacy finance infrastructure meets a crypto betting platform, with the next checkpoint being the expected 7 October 2025 announcement, after which valuation, governance, and regulatory duties can be judged.
