Polymarket targets $21B value in Trump Jr.-linked round

Polymarket is reportedly raising approximately $1 billion at a $21 billion valuation, with Donald Trump Jr.-linked 1789 Capital planning to contribute about $300 million. Summary 1789 Capital plans to invest roughly $300 million in Polymarket’s reported funding round, sources said. The planned $1 billion raise would value Polymarket at approximately $21 billion after new investment. 1789 Capital previously invested around $200 million and could become one of Polymarket’s largest backers. ICE remains Polymarket’s largest investor after accumulating approximately 22% of the company’s outstanding shares overall. Polymarket’s U.S. exchange holds CFTC designation while state challenges continue targeting sports event contracts nationwide. The Wall Street Journal reported the financing plans on Aug. 31, citing people familiar with the round. Alexa Henning, a spokesperson for 1789 Capital, separately confirmed the planned investment and valuation to The Business Times. The transaction has not been announced as completed. The final amount, participating investors and ownership distribution could change before the round closes. 1789 Capital could invest $500M across two rounds The planned $...