1789 Capital leads funding round for Polymarket, valuing it at $21B

Polymarket, the crypto-native prediction market that became a household name during the 2024 US presidential election, is now valued at $21 billion following a funding round led by 1789 Capital. To put that number in perspective, Polymarket was worth roughly $300 million not long ago. From regulatory limbo to $21 billion 1789 Capital, the venture firm co-founded by Omeed Malik and Chris Buskirk, first invested in Polymarket in August 2025. At that point, the platform carried a post-money valuation of $1.2 billion. That was already a significant jump from the roughly $300 million figure it had been pegged at earlier. By October 2025, the Intercontinental Exchange, the parent company of the New York Stock Exchange, participated in a round that valued Polymarket at approximately $9 billion. By April 2026, that figure had climbed to somewhere between $14 billion and $15 billion. Now the platform is raising at a $21 billion valuation, with 1789 Capital leading the charge. The firm counts Donald Trump Jr. as a strategic adviser. Cumulatively, Polymarket has raised over $2 billion across its various funding rounds. ICE alone has committed up to $2 billion to the platform. What changed: th...