Donald Trump Jr.'s firm leads $1 billion Polymarket funding round at $21 billion valuation

Donald Trump Jr.’s venture capital firm, 1789 Capital, is leading a $1 billion funding round for Polymarket, a platform where users bet on real-world events. The round values Polymarket at $21 billion, up 40% from its previous $15 billion valuation.

The firm is adding about $300 million to its existing $200 million investment in Polymarket, according to a spokesperson.

Key numbers

• New funding round: $1 billion
• Polymarket’s new valuation: $21 billion
• 1789 Capital’s new investment: $300 million
• Previous valuation: $15 billion

Trump family ties to prediction markets

Trump Jr. serves as an adviser to Polymarket and its rival, Kalshi, another prediction market. In 2025, he received shares in Kalshi worth over $300,000.

President Donald Trump has publicly supported prediction markets. In May, he stated on Truth Social that the industry would thrive under his leadership. His appointee to lead the Commodity Futures Trading Commission, which oversees these markets, has praised the companies and taken legal action against states attempting to regulate them.

What Polymarket does

Polymarket and Kalshi allow users to bet on the outcomes of events, such as political speeches or reality TV show results. Both platforms have seen significant growth over the past year.

Sources

• CoinDesk