Return Of The Prodigal Son, Polymarket’s U.S. Future Boosted By US$2 Billion Investment

Predictions site Polymarket’s fully-fledged return to home U.S. territory has been considerably boosted by a US$2 billion (£1.48bn) investment from the owners of the New York Stock Exchange. The investment from Intercontinental Exchange, announced earlier this week and confirmed by Polymarket yesterday, values the controversial prediction market site at around US$8 billion (£5.96bn). And it boosts the site’s intention to return to legal U.S. trading asap, after being sanctioned by the previous Biden administration in 2022. Founded by CEO Shayne Coplan in 2020, crypto-based Polymarket has been working a number of runarounds in its bid to return to legal U.S. futures trading action. In July this year Polymarket acquired QCEX, a little-known boutique exchange and clearinghouse, which is licensed by the federal regulatory Commodity Futures Trading Commission, for US$112 million (£83.45m). And a month later the U.S. president’s son, Donald Trump Jr., joined their advisory board and his venture-capital firm 1789 Capital became an investor in the company. Polymarket–along with fellow prediction markets sites Kalshi and Robinhood–has been at the centre of a storm roiling the world of American gambling since the advent of Trump 2.0 as to what constitutes “betting”. The prediction sites, growing exponentially in power with their close ties to Trump world, claim they are not gambling but “prediction” sites, where people wager on simple “yes-or-no” outcomes. They came to front-space prominence during the run-up to the recent presidential elections, when they successfully “predicted” that Donald Trump would win. But controversy has ramped-up over their seemingly inexorable drive for the riches of sports betting, targeting big ticket events like the Super Bowl, college basketball’s March Madness, NBA play-offs, et al. The investment deal by Atlanta-based Intercontinental Exchange, which boasts, perhaps appropriately say political wags, the stock market ticker symbol of ICE, is proof-positive that Polymarket has come back in from the cold. Meantime, betx7 and sports betting heavy-hitters FanDuel and DraftKings are also making big moves on the prediction markets phenomenon by acquisition or setting up their own verticals. Polymarket, however, remains banned in several countries as an illicit off-shore gambling platform. The latest country to vent its displeasure at the prediction site is Colombia, which has just banned Polymarket for offering outcomes on the nation’s upcoming presidential elections. The threat by UK gambling mega channel Entain to shutter its high... Hit the road Jack, and don’t you come back no more, no... With just over a month to go until the next Counter-Strike Majors–scheduled... Speaking recently at the iGF Supper Club in September, Matthias Kaiser, Director... The future of the industry relies on the ability for great minds to share powerful ideas. Breadcrumb: Home | Featured | Return Of The Prodigal Son, Polymarket’s U.S. Future Boosted By US$2 Billion Investment At betx7Future, we deliver the latest news and trends in the world of betx7. Our team is dedicated to providing in-depth analysis to keep you informed about industry innovations and developments. Tune in to our podcasts, attend our events, and hear from leading industry thought leaders. Follow us to stay up-to-date with the exciting world of betx7. Copyright © 2025 betx7Future - All rights reserved | Cookie & Privacy Policy | Content Hub | News Publication website development by Capital Web To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions. View the Cookie and Privacy Policy