Traditional American exchanges are starting to panic. The parent company of the New York Stock Exchange, ICE, has invested $2 billion in the prediction market Polymarket. What is behind this move?
In short, traditional financial exchanges are having a tough time:
**Severe Market Fragmentation** — The NYSE's market share is only 19.7%, overtaken by NASDAQ. All newly listed companies choose NASDAQ, causing the NYSE to lose its growth engine. Moreover, from 2000 to now, the market share of traditional exchanges has fallen from 95% to 30%, fragmented by dark pools and small exchanges.
**High-p
View OriginalIn short, traditional financial exchanges are having a tough time:
**Severe Market Fragmentation** — The NYSE's market share is only 19.7%, overtaken by NASDAQ. All newly listed companies choose NASDAQ, causing the NYSE to lose its growth engine. Moreover, from 2000 to now, the market share of traditional exchanges has fallen from 95% to 30%, fragmented by dark pools and small exchanges.
**High-p