CoinDesk
Donald Trump Jr.'s venture capital firm, 1789 Capital, is leading a $1 billion funding round that values prediction market Polymarket at $21 billion, a firm spokesperson confirmed Monday. 1789 Capital is contributing approximately $300 million on top of the roughly $200 million it had already invested, lifting Polymarket's valuation 40% from its prior mark of around $15 billion in just a matter of months.
Why it matters
The raise is not just a funding milestone. It lands at the intersection of the Trump family's deepening financial ties to the prediction market sector and a federal regulatory posture that is actively clearing the runway for it. Trump Jr. also serves as an adviser to rival platform Kalshi, where he received shares valued at more than $300,000. President Trump wrote on Truth Social in May that prediction markets would thrive under his leadership, and his CFTC appointee Michael Selig has praised the industry while suing states that have attempted to regulate it.
Market impact
Polymarket and Kalshi have both grown sharply over the past year as users bet on outcomes ranging from presidential speech content to reality television results. A $21 billion valuation for Polymarket signals that institutional capital now treats regulated prediction markets as a durable asset class rather than a speculative niche. The political alignment between the sector's largest backers and the administration overseeing its regulator is a structural tailwind that competitors and traditional finance platforms will need to price in.
Frequently asked questions
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How much is 1789 Capital investing in Polymarket's latest round?
1789 Capital is contributing approximately $300 million in the new round, on top of the roughly $200 million it had already invested in Polymarket, making it the lead investor in the $1 billion raise.
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What is Polymarket's new valuation and how fast did it rise?
Polymarket is now valued at $21 billion, up 40% from its prior valuation of approximately $15 billion, a jump that occurred over just a matter of months.
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How is the Trump administration shaping the regulatory environment for prediction markets?
CFTC head Michael Selig, a Trump appointee, has publicly praised Polymarket and Kalshi and has filed suits against states attempting to regulate the platforms, while President Trump has stated prediction markets will thrive under his leadership.
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Does Trump Jr. have financial ties to Polymarket's rival Kalshi as well?
Yes. Trump Jr. became an adviser to Kalshi in 2025 and received shares valued at more than $300,000, while also separately advising Polymarket, giving the Trump family a stake in both leading prediction market platforms.
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What does the $21 billion valuation signal about the prediction market sector broadly?
The valuation suggests institutional capital now views regulated prediction markets as a durable asset class rather than a speculative niche, particularly given the favorable federal regulatory posture and rapid user growth at both Polymarket and Kalshi over the past year.
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