Senator Proposes Ban That Could Threaten Intercontinental Exchange’s $2 B Polymarket Stake
Senator Chris Murphy plans legislation to outlaw prediction markets after accounts netted millions betting on the timing of a U.S. attack on Iran, threatening Intercontinental Exchange’s $2 billion Polymarket investment. Representative Josh Gottheimer purchased $1,000 to $15,000 of Intercontinental Exchange shares, aligning his stake with Polymarket’s growth.
1. Proposed Prediction Market Legislation
Senator Chris Murphy has introduced a bill to ban certain prediction market offerings after some accounts earned millions by correctly predicting the timing of a U.S. strike on Iran, citing insider trading concerns and ethical issues.
2. ICE’s Investment in Polymarket
In 2025, Intercontinental Exchange committed $2 billion to Polymarket at an $8 billion valuation, positioning the company to benefit from growing interest in markets that price event outcomes.
3. Congressional Stock Purchases
In January, Representative Josh Gottheimer disclosed a $1,000–$15,000 purchase of Intercontinental Exchange shares, joining other members of Congress with holdings and raising potential conflicts as Democrats weigh the future of prediction market regulation.