Donald Trump Jr.'s investment fund, 1789 Capital, is investing an additional $300 million into Polymarket as part of a funding round totaling close to $1 billion. The investment would value the prediction market platform at approximately $21 billion.
1789 Capital previously invested $200 million in Polymarket. The fund first disclosed a "double-digit millions" investment in August 2025, when the platform was navigating U.S. regulatory challenges. Since then, the fund built its stake to around $200 million before committing the new $300 million.
Trump Jr. serves on Polymarket's advisory board, giving his fund a direct role in the platform's strategy. Polymarket is currently engaged in regulatory disputes, with the Commodity Futures Trading Commission asserting exclusive federal authority over event contracts, while at least 20 states have pursued litigation arguing prediction markets tied to sports and elections constitute gambling under state law.
Polymarket's valuation increase reflects a broader expansion in the prediction market sector. Rival platform Kalshi closed its own $1 billion Series F funding round in May, valuing the company at $22 billion. That round included participation from Coatue, Sequoia, Andreessen Horowitz, Paradigm, Morgan Stanley, and Ark Invest.
Kalshi reported that institutional trading volume grew 800 percent over the six months leading into its May raise, with annualized volume reaching $178 billion. Combined, the two prediction market platforms have attracted roughly $2 billion in fresh capital within recent months at comparable valuations.
