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Gasthalter & Co. represents Polymarket as the world’s largest predictions market receives a $2B investment from Intercontinental Exchange, parent of the New York Stock Exchange. The deal values crypto-based Polymarket at about $8B.
"Our partnership with ICE marks a major step in bringing prediction markets into the financial mainstream," said Shayne Coplan, founder/CEO of Polymarket.
Combining ICE’s institutional scale and credibility with Polymarket’s consumer savvy, will result in delivering world-class products to the modern investor, he added.
The Wall Street Journal predicts the ICE connection will enable Polymarket to re-establish its presence in the US. Founded in 2020, Polymarket users bet on the outcomes of sports, political races and cultural issues.
Several countries ban Polymarket as an unlicensed offshore gambling platform, and it has been inactive in the US since 2022.
Polymarket’s ties with US officials have improved under the crypto-friendly Trump administration.
Donald Trump Jr. joined Polymarket’s advisory board in August and his 1789 Capital investment firm has a stake in the company.
Gasthalter & Co’s Carissa Felger represents Polymarket.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
