Intercontinental Exchange said on Tuesday it will invest as much as $2 billion in Polymarket, a move that will help the New York Stock Exchange parent expand beyond its traditional trading avenues amid heightened interest in prediction markets.

The transaction values Polymarket, which allows users to profit from predicting outcomes across topics ranging from sports and entertainment to politics and economy, at around $8 billion pre-investment. Intercontinental shares rose 4.4% in premarket trading.

Reuters had reported earlier this year that Polymarket, the world’s largest prediction market, was close to securing a valuation of more than $1 billion in a funding round led by billionaire Peter Thiel’s Founders Fund.

As part of the latest deal, ICE will use Polymarket’s event-driven data to provide sentiment indicators on relevant market topics.