Prediction markets just got their ultimate stamp of legitimacy. Intercontinental Exchange, the powerhouse behind the New York Stock Exchange, announced a strategic $2 billion investment in Polymarket, valuing the platform at approximately $8 billion. The deal marks a stunning transformation for a company that faced regulatory persecution just three years ago.

The investment represents a remarkable turnaround for Polymarket and its founder Shayne Coplan. In 2022, the platform agreed to block American users and pay $1.4 million to settle charges with the Commodity Futures Trading Commission for operating an unregistered derivatives platform. The regulatory crackdown forced Polymarket into exile from its home market, limiting access to users outside the United States while Coplan worked to build a compliant path back.

The years in regulatory purgatory could have killed the company. Instead, Polymarket used the time to prove its concept internationally, processing billions in trading........

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