Trump Jr’s 1789 Capital Leads $1B Polymarket Raise at $21B Valuation

What happened: 1789 Capital, with Donald Trump Jr. as partner, is leading a $1 billion funding round for prediction market Polymarket, including a new $300 million commitment. The round values Polymarket at $21 billion, up 40% from its previous $15 billion mark. ICE remains the largest investor, while Polymarket approaches valuation parity with rival Kalshi. The raise was confirmed by a 1789 Capital spokesperson, though Polymarket has not issued an official statement.

Why it matters: The deal cements Polymarket’s status as a leading prediction platform and highlights the growing institutionalization of crypto-native betting markets. However, Trump Jr.’s dual role as investor and advisor raises conflict-of-interest questions as US policy on prediction markets evolves. The absence of a Polymarket-side announcement leaves some details unconfirmed.

Source: CoinDesk