Trump Jr.’s 1789 Capital leads $1B Polymarket funding round

Donald Trump Jr.’s 1789 Capital has agreed to lead a $1 billion Polymarket funding round with roughly $300 million that would value the prediction market platform at $21 billion. Summary 1789 Capital is leading Polymarket’s $1 billion funding round with a planned investment of roughly $300 million. The financing would value Polymarket at $21 billion, up from its current valuation of close to $15 billion. 1789 Capital previously invested approximately $200 million in Polymarket, taking its disclosed commitments to roughly $500 million with the new round. Donald Trump Jr. advises Polymarket and rival Kalshi as prediction markets expand their regulated operations in the US. Polymarket returned to the US market through its acquisition of CFTC licensed QCEX after restricting American users under a 2022 settlement. Bloomberg first reported the new financing, while 1789 Capital spokeswoman Alexa Henning confirmed the investment details on Monday. The venture capital firm previously put approximately $200 million into Polymarket, which is currently valued at close to $15 billion. The proposed financing would give Polymarket another sharp valuation increase after the company spent the past ...