ICE · 10-Q · 2026Q2 · Full report

Investment Fair Value Gains

Intercontinental Exchange, Inc. · 2026-07-30 · Importance 67 · Surprise 66 · Matches filing data

ICE recorded $390 million of fair-value gains during the six months ended June 30, 2026, primarily from Polymarket preferred stock, with substantially all recognized in the first quarter. ICE also recognized a $62 million unrealized fair-value gain on its Bakkt investment during the six-month and three-month periods. Equity-method investment income increased to $43 million from $35 million for six months and to $17 million from $6 million for the quarter, primarily reflecting OCC earnings. These investment gains materially affected reported net income and operating cash flow.

Key facts

• Intercontinental Exchange, Inc. recorded $390 million of fair value gains during the six months ended June 30, 2026 primarily related to its investment in Polymarket preferred stock. source
• During the six months ended June 30, 2026, Intercontinental Exchange, Inc. excluded $452 million of non-cash fair value gains, including $389 million from the Polymarket observable price change fair value gain and a $62 million unrealized fair value gain from the Bakkt investment. source
• Intercontinental Exchange, Inc. recognized income of $17 million and $6 million as its share of estimated equity method investment income, net, during the three months ended June 30, 2026 and 2025, respectively. source
• Intercontinental Exchange, Inc. recognized income of $43 million and $35 million as its share of estimated equity method investment income, net, during the six months ended June 30, 2026 and 2025, respectively. source
• Intercontinental Exchange, Inc. recognized an unrealized fair value gain on its Bakkt investment of $62 million during the six and three months ended June 30, 2026. source
• Intercontinental Exchange, Inc. adjusts for its share of net income or loss related to its equity method investments, which primarily includes the OCC. source

Impact estimates