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A Florida-based venture capital firm where Donald Trump Jr. is a partner is leading a new $1 billion funding round for Polymarket, according to a report from WBFF. The round reportedly values the prediction-market platform at about $21 billion.
The firm, 1789 Capital, is said to be investing another $300 million on top of roughly $200 million it had already invested. For readers tracking gambling-adjacent markets, the deal is one of the biggest recent financial moves tied to a U.S.-facing prediction platform.
1789 Capital deepens its Polymarket stake
The report describes 1789 Capital as a Florida-based venture capital firm. Donald Trump Jr. is a partner at the firm and is also listed as an advisor to both Polymarket and rival prediction-market operator Kalshi.
Prediction markets such as Polymarket and Kalshi have grown quickly over the past year, with millions of users wagering billions of dollars on real-world events including politics and entertainment. The platforms make money by charging fees on each bet.
The latest funding round stands out both for its size and for the valuation attached to Polymarket. However, the source does not detail the full terms of the raise or how much ownership 1789 Capital would hold after the investment.
Regulation remains part of the story
The funding news also lands amid continuing scrutiny of how prediction markets are regulated in the U.S. The Commodity Futures Trading Commission oversees the sector and, according to the report, has praised the companies while also challenging state efforts to regulate them.
The same report notes that the head of the CFTC is a Trump appointee, and critics have questioned whether Trump Jr.’s business ties could give platforms such as Polymarket and Kalshi an edge in federal regulation. Trump Jr. said he invests as a private citizen and does not hold a policy role in his father’s administration.
Kalshi has also drawn attention for governance issues around event contracts. Earlier this year, the company banned former Rep. George Santos after he placed bets on his own potential appearance at the State of the Union.
What players should watch
For prediction-market users, the immediate takeaway is that large investors continue to back the sector even as regulatory questions remain unsettled. What to watch next is whether more details emerge about the Polymarket financing and whether federal or state regulators take additional steps affecting how these platforms operate in the U.S.
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Source: As reported by MOLLY K. GIBBS.
