Zohran Mamdani's victory in the New York City mayoral election has validated Polymarket's prediction market model, which had accurately given him over 90% odds of winning despite close polling. This outcome supports the platform's thesis as a reliable indicator amid political uncertainty, according to NYSE's Michael Blaugrund. Intercontinental Exchange, NYSE's parent company, recently invested $2 billion in Polymarket, valuing it at $8 billion. Blaugrund also noted the potential of integrating Polymarket data with Reddit analytics for market predictions. Despite its success, Polymarket is under regulatory scrutiny in several countries, including the U.S., France, Belgium, and Romania.