Polymarket gets big investment from New York Stock Exchange parent company

• It also puts new pressure on operators of sportsbook apps, with shares of both DraftKings and Flutter down in early Tuesday trading.

Catch up quick: Polymarket previously raised over $250 million, including this past summer at around a $1 billion valuation. Backers include Founders Fund, Polychain Capital, General Catalyst, and 1789 Capital.

• It also paid $112 million to acquire derivatives exchange QCEX, which has a CFTC license that will let Polymarket enter the U.S. market.

The bottom line: As part of the deal, ICE said that it will become "a global distributor of Polymarket's event-driven data," and "partner on future tokenization initiatives."