Trump Jr's firm leads $1 billion Polymarket raise at $21 billion value: Report
1789 Capital is putting in about $300 million, adding to a roughly $200 million stake, as the prediction market's valuation rises from $15 billion.
Polymarket, a blockchain-based prediction market, has reportedly secured a $1 billion investment round led by Donald Trump Jr.-linked investment firm 1789 Capital. This investment would value Polymarket at $21 billion, just behind Kalshi's $22 billion valuation. The $300 million contribution from 1789 Capital, where Donald Trump Jr. is a partner, would increase the firm's total investment in Polymarket to approximately $500 million, making it one of the platform's largest backers.
ICE remains Polymarket's largest disclosed investor, having previously invested $1.6 billion in the company. The investment round was discussed in July, when Polymarket began talks to raise $400 million at a potential $15 billion valuation, below Kalshi's $22 billion valuation. Prediction markets face growing regulatory scrutiny in the US and worldwide, with JPMorgan Chase ending its banking relationship with Polymarket in August over regulatory concerns.
Over a dozen US states have taken legal action against Polymarket and Kalshi over sports event contracts, and authorities in several countries have also restricted access to Polymarket.
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- Trump Jr.-linked 1789 Capital leads Polymarket’s $1B raise: Report cointelegraph.com
- Donald Trump Jr’s venture capital firm leads US$1 billion funding round for Polymarket businesstimes.com.sg
