The New York Stock Exchange’s (NYSE) parent company Intercontinental Exchange (ICE) said on Tuesday it will invest up to $2 billion into the crypto-based betting platform Polymarket.

The move marries the more traditional, regulated NYSE with the riskier prediction markets, and is generally seen as a move by the iconic, 233-year-old exchange to keep up with its competitors by capitalizing on the growing popularity of betting on all kinds of things.

“Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream,” Shayne Coplan, CEO of Polymarket, told Fast Company. “Together, we’re expanding how individuals and institutions use probabilities to understand and price the future . . . Realizing the potential of new technologies, such as tokenization,

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