1789 Capital, an investment firm connected to Donald Trump Jr., is reportedly set to spearhead a $1 billion funding round for Polymarket, which would push the platform’s valuation to $21 billion, trailing just slightly behind Kalshi’s $22 billion valuation.
The investment company associated with Donald Trump Jr. is allegedly injecting roughly $300 million into the decentralized prediction platform Polymarket.
According to sources close to the situation who spoke with the Wall Street Journal on Monday, 1789 Capital—where Donald Trump Jr. serves as a partner—will allocate this $300 million as part of a broader $1 billion financing effort valuing Polymarket at $21 billion.
This latest financial injection would elevate 1789 Capital’s cumulative commitment in Polymarket to approximately $500 million, positioning it among the venture’s premier supporters.
Cointelegraph reached out to both 1789 Capital and Polymarket for statements.
Intercontinental Exchange (ICE) continues to hold its spot as Polymarket’s biggest publicly revealed investor. Within an SEC 10-Q report filed on July 30, ICE revealed a cumulative $1.6 billion investment in Polymarket preferred shares. Those assets carried a book value of about $2 billion as of June 30, constituting roughly 22% of common shares or 14% on a fully diluted scale.
Polymarket reportedly initiated discussions to secure $400 million in new financing back in April, targeting a projected $15 billion valuation at that time, which was under the $22 billion valuation commanded by its primary rival, Kalshi.
Forecasting platforms are currently encountering heightened oversight from regulators both domestically in the United States and internationally. On August 14, JPMorgan Chase reportedly severed its banking ties with Polymarket due to compliance worries, although the bank indicated it would still be interested in underwriting duties should Polymarket pursue an initial public offering.
Over twelve US states have initiated legal proceedings against Polymarket, Kalshi, or both regarding sports wagering agreements, while regulatory bodies in multiple international jurisdictions have likewise restricted or prohibited user access to Polymarket.
Originally published at https://cointelegraph.com/news/trump-jr-linked-fund-invest-300m-polymarket-1b-round?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
