Intercontinental Exchange, the parent of New York Stock Exchange, is in talks to invest $2 billion in predictions market platform Polymarket, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

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The deal could potentially value Polymarket between $8 billion and $10 billion, the report said.

A spokesperson for Polymarket did not immediately respond to a Reuters request for comment.

Polymarket allows users to profit from predictions on a wide range of events, including sports, entertainment, politics and the economy. Trading in such event contracts has surged in popularity since the U.S. presidential election last year.

Shares of Intercontinental rose 4.4% in premarket trading following the report.