Donald Trump Jr.’s investment firm, 1789 Capital, has agreed to lead a new $1 billion funding round for prediction market platform Polymarket with a planned investment of approximately $300 million. The financing would value Polymarket at $21 billion, marking another major increase from its current valuation of around $15 billion.
The latest commitment would raise 1789 Capital’s total disclosed investment in Polymarket to roughly $500 million. The firm had previously invested about $200 million in the platform and later joined its advisory efforts as the company pursued a return to the U.S. market.
Trump Jr., a partner at 1789 Capital, serves on Polymarket’s advisory board and is also an adviser to rival prediction market operator Kalshi. He has stated that his involvement in both companies is as a private investor and adviser, separate from any government role or policy influence.
The proposed funding round comes as Polymarket continues its rapid growth. The company’s valuation has climbed sharply over the past year, supported by investments from major financial institutions and venture capital firms. A $21 billion valuation would more than double the level attached to an investment by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, in late 2025.
ICE remains one of Polymarket’s most significant strategic investors. The exchange operator initially committed up to $2 billion to the company and later increased its investment, citing the value of Polymarket’s event-driven market data and growing role in prediction markets.
The broader prediction market sector has expanded significantly as platforms offer contracts tied to elections, economic indicators, sporting events, entertainment outcomes and other real-world developments. Kalshi, Polymarket’s main competitor, also secured major funding this year and reached a valuation of approximately $22 billion.
The fundraising effort comes amid ongoing regulatory debates in the United States. Federal regulators and several state authorities continue to disagree over how prediction markets should be supervised and whether certain event contracts fall under commodities law or state gaming regulations.
Polymarket’s return to the U.S. market followed its acquisition of QCEX, a CFTC-licensed exchange and clearing organization. The deal provided a regulated pathway back into the country after the company restricted access for U.S. users under a 2022 settlement with the Commodity Futures Trading Commission.
Today, Polymarket operates both its international blockchain-based platform and a regulated U.S. exchange. The international platform uses USDC for settlement on Polygon, while the U.S. operation follows federal regulatory requirements, including identity verification and dollar-based settlement.
If completed, the new funding round would strengthen Polymarket’s position as one of the most highly valued companies in the digital asset and prediction market sectors, while providing additional capital to expand its regulated operations and compete more aggressively with rivals in the rapidly growing event-contract market.
